Bitcoin Miner TeraWulf (WULF) Stock Jumps 25% On AI News
TeraWulf is accelerating its shift into artificial intelligence through a new joint venture with AI cloud provider Fluidstack — backed by Google.
Shares of TeraWulf (NASDAQ: WULF) jumped more than 25% after the company announced a pivot to AI.
The companies plan to build 168 megawatts (MW) of high-performance computing capacity at TeraWulf’s Abernathy, Texas, campus under a 25-year hosting agreement valued at roughly $9.5 billion in contracted revenue.
- TeraWulf will hold a 51% stake in the venture.
- TeraWulf will retain exclusive rights to participate in Fluidstack’s next ~168 MW project on similar terms.
No direct quote available in the text.
Author's summary: TeraWulf shifts into AI with Fluidstack joint venture.
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