Google Boosts Stake in TeraWulf to 14% with $3.2 Billion Backing, Strengthening AI Infrastructure Partnership
Google has significantly increased its stake in TeraWulf from 8% to 14%, backed by a total investment of approximately $3.2 billion. The deal includes $1.4 billion in fresh financing and grants Google the right to purchase 32.5 million TeraWulf shares. CEO Paul Prager emphasized the "strategic alignment" with Google to advance artificial intelligence infrastructure.
TeraWulf's stock surged 90% over the past week, driven by its expansion in AI and energy-intensive compute capacity. The company recently secured two 10-year contracts with Fluidstack, an AI cloud provider, for over 200 megawatts of data center space in Western New York. Prager hailed the agreement as transformative, citing TeraWulf's expertise in energy infrastructure management.
