Google Backs TeraWulf’s $3B Debt Deal to Power AI-Driven Data Centers
TeraWulf has secured a $3 billion financing initiative with backing from Google, signaling a strategic pivot toward high-performance computing infrastructure. Morgan Stanley is orchestrating the deal, expected to launch in October through Leveraged loans or high-yield bonds.
The capital infusion will fuel the conversion of TeraWulf’s energy-intensive mining sites into AI-ready data centers. Google increased its financial commitment by $1.4 billion, bringing total support to $3.2 billion and boosting its equity stake from 8% to 14%.
The expansion targets growing demand for AI compute capacity across the U.S. TeraWulf’s scalable facilities position it as a key player in the infrastructure race, with upgrades expected to enhance its competitive edge in the sector.
