TeraWulf Stock Rises With AI Infrastructure Stocks After CoreWeave Earnings

TeraWulf Inc. (NASDAQ:WULF), now an AI infrastructure company, is rising Wednesday as CoreWeave’s earnings lift AI infrastructure stocks.

• TeraWulf shares are powering higher. Why are WULF shares rallying?

TeraWulf Stock Rises with CoreWeave

TeraWulf is now an AI infrastructure company, so CoreWeave’s results appear to matter more to its shares today than bitcoin does. Leases for high-performance computing brought in $63.0 million of TeraWulf’s $76.2 million third-quarter revenue, roughly 83%, based on its Nov. 6 report.

The company also holds an Anthropic lease that runs 20 years and covers about 401 megawatts at its Justified campus.

CoreWeave released third-quarter numbers after Tuesday’s close. Sales reached $3.66 billion, above the $3.55 billion forecast and up about 168% from a year earlier. Its adjusted loss came to 95 cents a share, smaller than the $1.16 loss analysts predicted, and it holds $132.5 billion in backlog.

Michael Intrator, CoreWeave’s chief executive, labeled it “a breakout quarter for CoreWeave.” For 2026, analysts expected $12.86 billion in revenue, but CoreWeave now guides to $13 billion up to $13.3 billion.

Almost no CoreWeave capacity remains unsold through 2027, an executive said on the earnings call, and the 2028 capacity put on offer has found buyers as well. CoreWeave will spend $37 billion up to $39 billion on capital projects, and it expects roughly $9 billion from customers paying in advance over the next three months.

TeraWulf makes most of its money by renting data center capacity to AI customers, the same market CoreWeave serves. If CoreWeave is sold out, demand for AI capacity may be running ahead of supply, which backs the case for TeraWulf’s own builds, including the 336 megawatts under construction at Lake Mariner.

CoreWeave’s heavy customer prepayments could also calm worries about how AI data center projects get funded, a question that applies to TeraWulf as well. This reasoning is an interpretation and not from the sources, and no source says CoreWeave lifted TeraWulf’s shares.

WULF Shares Are Jumping

WULF Price Action: TeraWulf shares were up 6.53% at $13.38 at the time of publication on Wednesday, according to Benzinga Pro.

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