TeraWulf (WULF) Plans $3.5B Debt Raise for Kentucky Data Center Campus

TeraWulf Inc. (NASDAQ:WULF) is one of the 10 Best Growth Stocks With Highest Upside Potential.

On July 9, 2026, Bloomberg’s Aaron Weinman, Michelle Cheng, and Gowri Gurumurthy reported that TeraWulf Inc. (NASDAQ:WULF) plans to raise approximately $3.5B in debt, including its first leveraged loan, to finance a new data center campus in Kentucky. Morgan Stanley (MS) is expected to lead the financing. CFO Patrick Fleury said the potential transaction would also include high-yield bonds. Fleury added that TeraWulf signed a 20-year lease with Anthropic for its Kentucky facility, which is expected to generate about $19B in revenue.

On July 8, Morgan Stanley analyst Stephen Byrd raised the firm’s price target on TeraWulf to $72 from $66.50 and kept an Overweight rating on the shares.

On July 7, Needham analyst John Todaro raised the firm’s price target on TeraWulf to $33 from $28 and kept a Buy rating on the shares. Todaro said the company signed one of the more attractive leases in the sector, demonstrating that demand remains robust. Needham also said its updated estimates include removing the Abernathy JV and adding in the latest Justified data center lease.

TeraWulf Inc. (NASDAQ:WULF) owns, develops, and operates digital infrastructure in the United States.

While we acknowledge the risk and potential of WULF as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WULF and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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