TeraWulf Inc.
(NASDAQ:WULF) shares rose Thursday after Morgan Stanley reiterated its Overweight rating and raised its price target from $66.50 to $72, extending gains fueled by the company's recently announced AI infrastructure deal with Anthropic.
Earlier this week, TeraWulf signed a 20-year lease for its Justified Data campus in Kentucky, a project that will provide 401 megawatts of AI computing capacity and is expected to generate about $19 billion in contracted lease revenue, with operations beginning in late 2027.
Separately, the company is selling its 50.1% stake in the Abernathy Joint Venture, monetizing an investment of about $450 million at a premium.
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