TeraWulf Plans $3.5B Raise to Expand Anthropic Data Center

TeraWulf Inc. (ticker: WULF), a company with roots in Bitcoin mining, is reportedly seeking about $3.5 billion in debt financing led by Morgan Stanley to expand an AI data center it is building for Anthropic in Hawesville, Kentucky. According to Bloomberg, the raise would combine a leveraged loan and high-yield bonds and marks TeraWulf's first foray into the leveraged loan market. CFO Patrick Fleury said the company plans to launch the deal within the year.