TeraWulf Soars 22% on $3.7B AI Hosting Deal with Google Backing

TeraWulf (WULF) surged 22% after securing two decade-long high-performance computing colocation agreements with AI cloud platform Fluidstack, potentially generating up to $8.7 billion in revenue. Google bolstered the deal by guaranteeing $1.8 billion of Fluidstack's obligations and acquiring an 8% stake in TeraWulf through warrants for approximately 41 million shares.

The agreements will utilize over 200 megawatts of capacity at TeraWulf's purpose-built Lake Mariner facility in New York, featuring liquid-cooling infrastructure tailored for AI workloads. Phase one deployment of 40 MW is scheduled for H1 2026, with full buildout anticipated by year-end.

CEO Paul Prager described the partnership as transformative for the company, while Fluidstack's leadership emphasized the collaboration's potential to deliver scalable AI infrastructure. The Lake Mariner campus's dual transmission lines and low-latency connectivity position it as a premier site for demanding computational tasks.