TeraWulf Jumps 13% on AI Data Center Expansion in Kentucky
TeraWulf (WULF) surged 13% early Tuesday after announcing plans for a new 1-gigawatt AI and high-performance computing (HPC) campus in Kentucky. The company acquired a hyperscale development site capable of supporting over 1 GW of infrastructure, with the Muskie Data Campus expected to deliver an initial 500 megawatts in the second half of 2028 and another 500 megawatts by 2030. CEO Prager highlighted that access to electricity and transmission infrastructure is now the key constraint in the AI boom, not computing hardware. The rally reflects broader strength in AI-linked stocks, including bitcoin miners transitioning to data center operators. Hut 8 rose 7%, Keel Infrastructure gained 6.5%, IREN rose 5%, and Cipher Mining advanced 5.5%. Memory chipmaker Micron surged 15% to record highs above $870 after a UBS target upgrade, and AMD gained 5% to new highs. This move underscores the growing trend of crypto miners pivoting to AI infrastructure to leverage their power assets.
Key facts
- TeraWulf announces 1 GW AI/HPC campus in Kentucky, stock jumps 13%.
- Initial 500 MW expected by H2 2028, additional 500 MW by 2030.
- CEO says power and transmission are now the key AI constraint.
- Other bitcoin miners like Hut 8, IREN, Cipher also rise on AI pivot trend.
- Micron surges 15% to record high on UBS target hike to $1,625.