Stock Market Today, July 6: TeraWulf Gains on $19 Billion Anthropic AI Lease Deal
TeraWulf (NASDAQ:WULF), a Bitcoin (CRYPTO:BTC) mining and AI data center infrastructure provider, closed at $22.21, up 4.86%. The company announced a lease to Anthropic and a joint-venture data center sale that could unlock long-term AI infrastructure revenue.
Trading volume reached 73.3 million shares, coming in about 135% above its three-month average of 31.2 million shares.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) rose 0.74% to 7,538, while the Nasdaq Composite (NASDAQINDEX:^IXIC) climbed 1.12% to 26,121. Among bitcoin mining and AI/high-performance computing (HPC) digital infrastructure peers, Cipher Digital (NASDAQ:CIFR) gained 8.43% to $21.73, and IREN (NASDAQ:IREN) rose 13.11% to $43.91 as investors kept watching AI-data-center monetization.
What this means for investors
TeraWulf has been progressing as it transitions from Bitcoin mining to a recurring revenue HPC business model. Its latest acquisition was made in late May when the company acquired a large data center development site in Eastern Kentucky. Today, the company announced a long-term lease agreement for another HPC site in Hawesville, Kentucky.
The least to AI research company Anthropic will run for 20 years and is expected to generate about $19 billion of contracted revenue. Separately, TeraWulf entered an agreement to sell its 50.1% stake in a Texas data center. The company said it will receive about $530 million for its original $450 million investment.
That capital, along with recurring lease income, will help the company expand its long-term cash flow. Investors are now cheering the success of TeraWulf’s AI business model, and there could be more to come.
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Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
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