Anthropic Signs $19 Billion US Data Center Deal with TeraWulf

Data center developer TeraWulf signed a 20-year lease agreement with AI player Anthropic. The deal is expected to generate $19 billion in contracted revenue over the initial term.

TeraWulf will provide a purpose-built AI infrastructure campus at its Justified Data site in Hawesville, Kentucky, accommodating approximately 401MW of critical IT load. The campus will be developed in phases, with initial capacity expected to be online in the second half of 2027 and full capability by early 2028.

TeraWulf chairman and CEO Paul Prager said the company previously told investors it expected to secure a major customer commitment around the end of Q2. “The Anthropic lease validates the company’s strategy and establishes a long-term revenue stream with one of the world’s leading AI companies, creating a framework for future expansion while demonstrating TeraWulf’s “ability to source power, develop infrastructure and secure long-term customer commitments.”

TeraWulf also announced a separate agreement to sell its entire 50.1% stake in a joint venture with AI cloud platform Fluidstack, which is building a 168-megawatt AI data center campus in Abernathy, Texas. An investor group led by Fluidstack is in line to make the purchase, which sees TeraWulf cash out an investment of around $450 million at a premium to invested capital. Fluidstack is set to continue leading the project when the transaction completes.