US stock futures inch lower after Wall St marks fresh records on tech gains
Terawulf Inc (NASDAQ:WULF) stock reached a significant milestone by hitting a 52-week high of 10.03 USD. According to InvestingPro data, the stock’s impressive trajectory includes a 122.58% one-year return and a notable 66.11% surge in just the past week. This achievement reflects strong investor confidence, though the RSI indicates overbought conditions. The company’s stock has shown substantial growth, driven by various strategic initiatives and favorable market conditions. With a market capitalization of $3.52 billion and analyst price targets ranging from $6 to $14, this upward trajectory highlights Terawulf Inc’s potential, though InvestingPro analysis suggests the stock may be overvalued at current levels.
In other recent news, TeraWulf Inc. announced its intention to offer $400 million in convertible senior notes due in 2031. This offering, aimed at qualified institutional buyers, includes an option for initial purchasers to acquire an additional $60 million in notes, dependent on market conditions. Meanwhile, Google (NASDAQ:GOOGL) has increased its financial backstop for TeraWulf to approximately $3.2 billion and expanded its ownership stake in the company to about 14%. This development is linked to a new lease agreement for the CB-5 data center building at TeraWulf’s Lake Mariner campus in Western New York.
Additionally, Fluidstack, an AI cloud platform, has exercised its option to expand its lease at TeraWulf’s data center, adding 160 megawatts of critical IT load with operations expected to commence in the latter half of 2026. The expanded partnership with Google supports this project-related debt financing. In another development, Rosenblatt has raised its price target for TeraWulf to $10.50 from $6.00, maintaining a Buy rating. Rosenblatt cited the company’s transformative partnerships with Fluidstack and Google as key factors in this decision. These recent developments indicate significant growth and investment in TeraWulf’s infrastructure and partnerships.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.