MSTR Expanding AI With Mosaic: Is the Stock Evolving Beyond Bitcoin?

MicroStrategy MSTR, doing business as “Strategy,” has taken a significant step in expanding its AI capabilities with the general availability of Strategy Mosaic, an AI-powered Universal Intelligence Layer. This launch aligns with the company’s shift toward cloud-first, subscription-based services and could contribute positively to revenue and earnings expectations by enhancing demand for its AI solutions.

Strategy plans to scale its cloud offerings and deepen customer engagement. As enterprise demand for trusted, scalable AI infrastructure grows, the success of Mosaic may well determine the next chapter in MSTR’s subscription-driven evolution.

The impact is already evident in the company’s Subscription Services segment, which saw a 61.6% year-over-year increase in revenues, reaching $37.1 million in the first quarter of 2025. Mosaic complements this growth by allowing customers to integrate data from over 200 sources, automate semantic modeling and deliver AI-ready insights across tools like Power BI, Tableau and Excel.

Unlike traditional one-time product licenses, Strategy’s subscription offerings, now bolstered by Mosaic, deliver ongoing value through data governance, semantic consistency and integrated security. With Mosaic’s AI-powered Studio, customers can dramatically speed up data preparation and metric creation using natural language, enhancing time-to-value and user adoption. These features are not just technological enhancements but also open doors for cross-selling within the cloud ecosystem.

RIOT & MARA Challenge MSTR in AI Race

Riot Platforms RIOT is transforming its 600 MW of idle capacity into an AI and HPC hosting platform, targeting enterprise clients alongside its Bitcoin mining operations. Riot Platforms differentiates itself by offering physical AI compute infrastructure, positioning for long-term subscription revenues. While Strategy focuses on AI-enhanced analytics through its proprietary software suite, Riot Platforms competes by offering physical AI compute infrastructure. This strategic pivot underscores Riot Platforms’ goal to become a major player in AI infrastructure.

MARA Holdings MARA is leveraging its advanced immersion-cooling tech and grid-responsive power control to enable co-located AI inference together with Bitcoin mining. The company is licensing its 2-phase immersion systems and collaborating with data-center operators. MARA Holdings positions itself as an AI infrastructure enabler. Unlike Strategy’s focus on AI software analytics, MARA Holdings is building the physical backbone for AI deployments, highlighting a clear distinction in how both firms approach the AI opportunity.

MSTR’s Price Performance, Valuation & Estimates

Shares of Strategy have gained 33.5% year to date compared with the Zacks Computer – Software industry’s return of 13.5%.

MSTR has a Value Score of F. It is currently trading at a Price/Book ratio of 3.21 compared to the sector’s 9.94X.

The Zacks Consensus Estimate for MSTR’s 2025 loss is currently pegged at $15.73 per share, unchanged over the past 30 days. The estimate suggests a steep year-over-year decline of 134.08%.

MSTR stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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