WULF Stock Soars on Kentucky Power Approval and Anthropic Lease Deal

TeraWulf Inc., trading under the ticker WULF, has seen its stock price surge by 3.35% after a series of positive developments in the AI power market. The company's pivot from bitcoin mining to AI data-center power has been a key driver behind its growth.

The Kentucky Public Service Commission approved up to 482 MW of power for TeraWulf's Justified Data Campus, which could support a potential $4.0, $4.5B AI/HPC build-out. This approval shifts key power and infrastructure risks onto the company.

TeraWulf has also secured a 20-year lease with Anthropic for roughly 401 MW at its repurposed smelter campus, tied to an estimated $19B in contracted revenue. Analysts are bullish on the stock, with William Blair initiating coverage with an Outperform rating and a $31 base-case fair value.