WULF Jumps 7% as TeraWulf Plans $3.5B Debt Raise for Kentucky AI Data Centre

According to Bloomberg, TeraWulf Inc. (WULF) shares jumped 7% on Thursday after the company announced plans to raise around $3.5 billion in debt to finance an AI-focused data centre campus in Kentucky. The financing would mark the company's first foray into the leveraged loan market, with Morgan Stanley leading the deal. The package is expected to include leveraged loans and high-yield bonds.

TeraWulf signed a 20-year lease with Anthropic on Monday for its Kentucky facility, known as Justified Data. The deal is projected to generate approximately $19 billion in revenue over its term and includes two five-year extension options. Morgan Stanley raised its price target on WULF to $72, implying over 215% upside potential.