TeraWulf (WULF) Surges on AI Data Center Expansion
TeraWulf Expands AI Data Center Capacity with Fluidstack, Google Backing
TeraWulf (WULF) is experiencing significant upward momentum following news of an expansion at its Lake Mariner data center campus in Western New York. AI cloud platform Fluidstack has exercised its option to increase its footprint, and Google (GOOG) is significantly increasing its financial support.
Key Highlights:
- Fluidstack Expansion: A new purpose-built data center building, CB-5, will add an incremental 160 MW of critical IT load. Operations are slated to begin in the second half of 2026.
- Google's Increased Investment: Google is adding $1.4 billion to its backstop for the project's debt financing, bringing the total to $3.2 billion.
- Google's Equity Stake: In return for the increased financial support, Google is receiving warrants for 32.5 million shares of WULF. Google's pro forma equity ownership has risen to 14%.
“This expansion underscores the unmatched scale and capabilities of the Lake Mariner campus,” stated Paul Prager, CEO of TeraWulf. “By adding CB-5, we are not only increasing our contracted capacity with Fluidstack, but also further deepening our strategic alignment with Google as a critical financial partner in delivering the next generation of AI infrastructure.”
The market has reacted positively to the news. WULF shares are seeing premarket gains and have nearly doubled in price since the initial announcement late last week.