Google-backed stock jumps after new AI deal

TeraWulf’s acquisition of the 1‑GW Muskie Data Campus and its pivot into AI/HPC infrastructure spurred a strong market reaction, with its stock jumping as much as 13% and hitting a 52‑week high. The deal — phased to deliver an initial 500 MW in H2 2028 and a further 500 MW in H2 2030 — reduces power-delivery risk by tying transmission work to Kentucky Power/AEP and bolsters long‑term lease revenue prospects tied to Google and other customers. The article highlights Google’s prior financial backing and long‑term hosting deal with TeraWulf, Q1 2026 revenue and widening net losses tied to the strategic shift, and analyst/upgrades that reinforce positive investor sentiment. Market impact: the acquisition improves TeraWulf’s capacity and contract visibility, supporting an upbeat outlook for AI‑lease growth and driving short‑term share gains.