TeraWulf's stock has surged 40.82% in 2026, outperforming peers like Applied Digital, IREN, and Core Scientific, thanks to a significant 20-year lease agreement with Anthropic for a data center campus in Kentucky. This deal is expected to generate about $19 billion in lease revenue, with capacity coming online by 2027-2028. TeraWulf also sold its stake in a joint venture to raise capital for AI infrastructure expansion. Analysts like Needham have raised price targets, highlighting strong AI demand and contracted revenue streams. While risks remain in construction and execution, TeraWulf's growth reflects investor optimism in AI infrastructure, with peers also advancing in this space.
