TeraWulf secures Google backing for $19 billion Anthropic deal
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Key points
- TeraWulf (NASDAQ:WULF) secured Google credit support for its $19 billion Anthropic data centre lease.
- The 20-year agreement covers approximately 401 megawatts of critical IT capacity for artificial intelligence and high-performance computing.
- TeraWulf also signed a construction agreement with Fluor covering three Kentucky data centre buildings.
TeraWulf (NASDAQ:WULF) has secured Google credit support for its $19 billion Anthropic lease at its Kentucky data centre campus.
The 20-year agreement covers approximately 401 megawatts of critical IT capacity for artificial intelligence and high-performance computing.
“Google’s credit support strengthens our ability to secure competitive project financing, while Fluor’s engineering and construction capabilities expand our capacity to execute at scale,” according to TeraWulf Chairman and Chief Executive Officer Paul Prager.
Google's support can cover certain Anthropic lease obligations if payment defaults or insolvency occur.
“Cost of capital is fundamental to infrastructure development,” according to TeraWulf Chief Financial Officer Patrick Fleury.
The Fluor agreement covers engineering, procurement, construction, testing and commissioning across three data centre buildings.
Construction milestones target phased completions from late 2027 through the second quarter of 2028.
Following the announcement, TeraWulf shares were down 14.36% at $10.02.
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