TeraWulf Jumps After Morgan Stanley Overweight Call on AI Hosting Push

The note highlights a shift to leasing built data-center capacity that could produce steadier cash flows.

Overview

TeraWulf closed at $16.62 on Monday, up about 16.5%, after Morgan Stanley set a $37 price target implying roughly 123% upside.
Morgan Stanley said the company could benefit from moving from pure-play bitcoin mining to serving artificial intelligence customers.
The firm’s thesis centers on valuing long-term leased data-center assets for stability and durable cash generation.
Earlier this month TeraWulf announced two site acquisitions with combined potential for about 1,480 MW of new digital and power capacity.
The Hawesville, Kentucky site has roughly 250 buildable acres and about 480 MW of existing power, while the Morgantown, Maryland parcel includes a grid-connected plant with around 210 MW today and expansion potential toward 1 GW; Q4 and full-year 2025 results are due Feb. 26 after the close.