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TeraWulf Stock Soars on $3.7 Billion AI Data Center Deal Backed by Google
TeraWulf Stock Soars on $3.7 Billion AI Data Center Deal Backed by Google
22
1
BTCCSquare news:
TeraWulf shares surged 44.1% following the announcement of a landmark 10-year, $3.7 billion co-location agreement with AI cloud provider Fluidstack. The deal, guaranteed by Google for up to $1.8 billion, secures 200 megawatts of compute power at TeraWulf's New York facility—a strategic move in the escalating race for AI infrastructure capacity.
Google's backing comes with warrants for an 8% equity stake, enabling TeraWulf to finance the massive compute expansion. The agreement reflects the staggering scale of tech giants' infrastructure investments, with Google and peers projected to spend nearly $400 billion next year on data center buildouts.
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