Movement Alert|TeraWulf Inc. Rises 5.06% in Regular Trading, Google Nearly Doubles Stake to 14% Boosting AI Pivot Confidence

Market Focus
Aug 21

On August 21, TeraWulf Inc. rose 5.06% in regular trading, trading at $16.285/share, with turnover of $384 million.

On the news front, recently disclosed holding data revealed that Google nearly doubled its stake in TeraWulf to 14%, representing a significant capital endorsement from a tech giant for the company's AI infrastructure strategy. The move bolstered market confidence in the company's ongoing business transformation.

TeraWulf's pivot toward AI infrastructure has been substantiated by its 20-year lease agreement with Anthropic at its Justified Data campus in Kentucky, valued at approximately $19 billion in total contract revenue. In Q2, the company's HPC leasing revenue reached $31.93 million, accounting for roughly 71% of total revenue, confirming the business center of gravity has materially shifted to AI infrastructure. However, Q2 results showed a wider-than-expected loss of $1.94 per share versus the consensus estimate of a $0.22 loss, with revenue of $44.8 million missing the $46 million estimate. Morgan Stanley recently lowered its price target to $62.50 from $72 while maintaining an Overweight rating.

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