Google provides credit support for TeraWulf’s $19 billion Kentucky data‑center leases
+1 new source since this summary was written
TeraWulf Inc. announced that Google LLC has signed three credit‑support agreements covering roughly $19 billion of 20‑year Anthropic leases at the Justified Data Campus in Hawesville, Kentucky. The leases total about 401 MW of critical IT load across three buildings. The company also entered a guaranteed‑maximum‑price engineering, procurement and construction contract with Fluor Enterprises for the same campus. Shares of TeraWulf rose about 1.7% in pre‑market trading after the disclosure.
Why it matters
The credit backstop improves the financing profile of the project, allowing TeraWulf to pursue long‑term debt on better terms, as noted by the CFO. The news lifted the stock, indicating market confidence in the deal’s financing structure.
Key facts
- 1Google signed three credit‑support agreements covering Anthropic’s leases valued at approximately $19 billion over the initial term. finance.yahoo.com
- 2The leases span 20 years and involve roughly 401 MW of critical IT load across three data‑center buildings. finance.yahoo.com
- 3Phased delivery of the data‑center facilities is expected to start in late 2027 and finish by the second quarter of 2028. investing.com
- 4TeraWulf signed a definitive engineering, procurement and construction agreement with Fluor Enterprises on a guaranteed‑maximum‑price basis. investing.com
- 5TeraWulf’s shares rose 1.7% in pre‑market trading, moving from $12.53 to $12.75. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.