TeraWulf Stock Surges 22% After $9.5B Google-Backed AI Compute Deal With Fluidstack

Why It Matters

The deal positions TeraWulf as a key player in the fast‑growing AI‑compute market, diversifying its revenue away from volatile crypto mining and attracting heavyweight tech capital.

Summary

TeraWulf, the former bitcoin miner now pivoting to AI infrastructure, announced a $9.5 billion partnership with Google‑backed Fluidstack to co‑develop a 168 MW data center in Texas. The agreement secures long‑term revenue streams for TeraWulf as the facility will provide AI compute capacity to Fluidstack’s customers. Construction is slated to begin later this year, expanding TeraWulf’s footprint beyond cryptocurrency mining into high‑performance AI services.