Anthropic To Lease TeraWulf Data Centre
Artificial intelligence (A.I.) startup company Anthropic has signed a 20-year lease to use a TeraWulf (NASDAQ: $WULF) data centre located in Kentucky.
The data center, located about an hour south of Louisville, will have capacity for 400 megawatts of power when it comes online in the second half of 2027.
The lease is expected to generate around $19 billion U.S. of revenue for TeraWulf.
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TeraWulf is a cryptocurrency mining company that has pivoted to A.I. data centres. The company had previously specialized in Bitcoin (CRYPTO: $BTC) mining.
Anthropic is one of the largest A.I. companies in the world and known for its Claude series of chatbots. The company’s A.I. models specialize in computer coding.
While privately held, Anthropic is expected to hold its initial public offering (IPO) in the second half of this year or in early 2027.
Anthropic was last valued at $965 billion U.S. in a private funding round. The company’s valuation is expected to exceed $1 trillion U.S. when it holds its high-anticipated IPO.
Management at Anthropic have said repeatedly that the company requires more computing power to run its current and future A.I. models and applications.
WULF stock has risen 341% in the last 12 months to trade at $21.18 U.S. per share.