TeraWulf shares surge 19.59% after-hours as AI data center pivot with Google and $3.2B financing drive optimism.

TeraWulf Inc. (WULF) surged 19.59% in after-hours trading following announcements of a strategic pivot to AI data center services, backed by Google, and a $3.2 billion senior secured notes offering to fund expansion. The company’s focus on high-performance computing (HPC) infrastructure and partnerships with major tech players signaled strong growth potential, attracting institutional investors and analysts. Positive sentiment was further reinforced by upgraded price targets and a "Moderate Buy" consensus among brokers. While risks such as high leverage were noted, the immediate bullish reaction reflected market confidence in TeraWulf’s scalable compute capacity positioning and capital-raising efforts.