Stock Market Today, July 7: TeraWulf Pulls Back After Anthropic Lease Draws Focus to AI Buildout
TeraWulf’s Anthropic deal adds a major AI data-center opportunity, while investors watch the funding, power, and timing needed to bring the project online.
Overview
TeraWulf (NASDAQ:WULF), an AI and bitcoin mining infrastructure operator, closed at $20.24, down 8.87%. Premarket Anthropic lease news and a midday pullback kept investors focused on the company’s AI buildout and funding plans.
The S&P 500 (SNPINDEX:^GSPC) fell 0.45% to 7,503.85, while the Nasdaq Composite (NASDAQINDEX:^IXIC) fell 1.16% to 25,818.69. Among digital infrastructure and bitcoin mining with high-performance computing/AI hosting peers, Cipher Digital (NASDAQ:CIFR) closed at $20.47, down 5.80%, and CleanSpark (NASDAQ:CLSK) closed at $12.48, down 7.62%.
Details
TeraWulf’s decline shifted focus from the scale of its Anthropic lease to the execution needed to generate revenue. The 20-year agreement secures a significant AI infrastructure contract, with approximately $19 billion in expected lease revenue and 401 megawatts of planned critical IT load. Initial service is scheduled for the second half of 2027, with full capacity targeted for early 2028. As a result, investors will now be focusing on construction, power delivery, funding, and project timing.
Source
Originally published at www.fool.com.