TeraWulf Inc. shares jumped sharply in trading Monday following reports of a landmark $19 billion agreement with artificial intelligence developer Anthropic.
The deal represents one of the largest infrastructure commitments in the AI sector to date, underscoring the intense demand for power and cooling capacity to support large language model training and inference workloads.
The market reaction was immediate and decisive, with TeraWulf's stock price surging as investors repriced the company's growth trajectory.
The magnitude of the transaction suggests that Anthropic is securing long-term capacity well in advance of projected compute needs, a strategy increasingly common among leading AI labs facing hardware and energy constraints.
This development marks a significant evolution for TeraWulf, which has been actively transitioning its business model from cryptocurrency mining to providing data center services for AI clients.
The $19 billion figure, as reported by MarketWatch, highlights the scale of capital deployment required to build out the necessary infrastructure, likely involving substantial upgrades to existing facilities or new construction projects.