WULF Stock Soars on Massive Anthropic Deal and Shift to AI Infrastructure
TeraWulf Inc. (NASDAQ: WULF) stock has seen a significant uptick in value, rising by 5.74% after the company announced a major deal with Anthropic. The 20-year lease at TeraWulf's Justified Data campus is expected to generate approximately $19B in contracted revenue and marks a pivotal shift for the company from bitcoin mining to AI/HPC infrastructure.
While the Q2 2026 revenue of $44.8M was slightly lower than expectations, analysts are optimistic about the long-term prospects of WULF. The company's balance sheet shows a substantial cash reserve of around $3B, and major firms such as B. Riley, Citi, Morgan Stanley, Chardan, Keefe Bruyette, and Citizens maintain Buy/Outperform/Overweight views on WULF.
The recent Anthropic deal has repositioned TeraWulf as an AI data-center infrastructure name, with the company's shares being re-rated accordingly. The massive contracts and long-duration cash flows are expected to drive significant value for the company in the future.
However, analysts also caution that WULF is still in 'build mode' and faces significant risks, including funding needs and AI-tenant concentration. Trading activity remains volatile, but with major institutional support and a strong balance sheet, TeraWulf appears poised to capitalize on its new direction.