Update: 1-TeraWulf receives credit support from Google for Anthropic's data center project

The full text supplements details and background information

Reuters, November 4 - Data center developer TeraWulf WULF.O said on Wednesday it had reached a credit guarantee agreement with Google GOOGL.O, a subsidiary of Alphabet, to support financing needs for its data center project in collaboration with Claude developer Anthropic.

The company also announced that it has reached an expanded agreement with engineering and construction company Fluor Enterprises regarding the development of the data center site in Hawesville, Kentucky.

The credit arrangement with Google is the latest example of large tech companies providing billions of dollars in financial support and guarantees to help smaller AI firms—including emerging cloud service providers and data center developers—raise funding and build costly artificial intelligence infrastructure.

In July, TeraWulf signed a 20-year data center infrastructure lease agreement with Anthropic. The deal is expected to bring TeraWulf about 1.9 billion dollars in contract revenue. Like many other companies amid surging demand, TeraWulf is shifting from Bitcoin mining to providing critical AI infrastructure.

"Strong investment-grade credit support reinforces the project’s financing strength and enhances our ability to secure competitive long-term debt," said TeraWulf Chief Financial Officer Patrick Fleury.

The campus is expected to support approximately 401 megawatts of critical IT load, with the initial capacity anticipated to come online in the second half of 2027.

Impacted by a broad decline in AI data center stocks, TeraWulf shares fell about 3% in premarket trading as investors weigh the potential for tighter regulation following the Democratic Party's control of Congress.

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