Target Hospitality shares surge 36.42% intraday on $550M hyperscaler data center contract and raised 2026 outlook.

Target Hospitality surged 36.42% intraday following the announcement of a $550 million multi-year contract with a top-five hyperscaler to construct and operate a Data Center Hub for approximately 4,000 workers in North Texas. The deal, expected to generate significant minimum revenue over five years with extension options through 2035, also prompted the company to raise its 2026 revenue and adjusted EBITDA outlook. The immediate construction start and strong revenue visibility reinforced investor confidence in Target’s strategic positioning within the growing data center and AI infrastructure sectors.