TeraWulf Drops 8% Despite Analyst Target Hikes on $19B Anthropic Deal

Corporate ActionAnalystPrice ActionDigital Finance Impact 4
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Summary · why it matters

TeraWulf shares fell 8% to $20.41 in midday trading Tuesday, reversing a rally sparked by its $19 billion Anthropic data-center lease, as unfinalized credit support and a broad AI-infrastructure selloff weighed on the stock. Rosenblatt raised its target to $30, Needham to $33, KBW held Outperform at $33, and Bernstein reiterated Outperform at $36, yet the stock declined alongside peers IREN, down 7% to $40.97, Applied Digital, off 6% to $31.56, and Cipher Mining, down 4% to $20.85. The 20-year lease covers 401 megawatts net at the Justified Data campus in Kentucky, with phased delivery starting in the second half of 2027, pushing TeraWulf's total AI orderbook to $27 billion across three clients including Anthropic, Core42, and Alphabet-backed Fluidstack. KBW noted that investment-grade credit support depends on Anthropic's hardware vendor choice, expected within about four months, while TeraWulf also agreed to sell its 50.1% stake in the Abernathy joint venture to a Fluidstack-led group for $530 million in staged installments, adding to near-term overhangs.

Impact on stocks 6

Artificial Intelligence▼ · 3 stocks
Cipher Mining Inc
CIFR
▼ NegativeCapitalrelevance

Shares fell 4% in a broad AI-infrastructure selloff, with no company-specific news.

Digital Finance & Tokenization▼ · 1 stocks
Terawulf Inc
WULF
▼ NegativeDemandCapitalrelevance

Signed $19B Anthropic data-center lease, boosting AI orderbook to $27B, but stock fell 8% due to unfinalized credit support and sector selloff.

Cloud & Digital Infrastructure▼ · 1 stocks
IREN Ltd
IREN
▼ NegativeCapitalrelevance

Shares fell 7% in a broad AI-infrastructure selloff, with no company-specific news.

Climate Adaptation & Water▲ · 1 stocks

Theme Impact 4

Off-coverage companies 4

AnthropicPrivate± Mixed
relevance

Core42Private± Mixed
relevance

FluidstackPrivate± Mixed
relevance

Rosenblatt Securities Inc.Private± Mixed
relevance

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