TeraWulf (WULF) rose 13% early Tuesday as the company revealed plans for a new large-scale artificial intelligence and high-performance computing (HPC) campus in Kentucky.
The company said it acquired a hyperscale development site capable of supporting more than 1 gigawatt of AI and HPC infrastructure over time. The so-called Muskie Data Campus is expected to deliver an initial 500 megawatts starting in the second half of 2028, with another 500 megawatts planned for 2030.
The firm said the Kentucky project underscores how access to electricity and transmission infrastructure has become one of the key battlegrounds in the rise of AI.
“The defining constraint of this market is no longer computer hardware,” Prager said. “It’s about energy, transmission infrastructure and certainty of execution.”
The rally also tracked broader strength in AI-linked stocks, including bitcoin miners that have increasingly repositioned themselves as operators of data centers and AI infrastructure. The sector has become one of the hottest corners of crypto-linked stocks over the past year, as investors bet that the huge power needs of artificial intelligence models could create a more lucrative long-term line of business beyond token mining.
Hut 8 (HUT) rose 7%, while Keel Infrastructure (KEEL), formerly known as Bitfarms, rose 6.5%. IREN (IREN) gained almost 5% and Cipher Mining (CIFR) advanced 5.5%.
Memory chip maker Micron (MU) jumped 15% to hit new all-time highs above $870, while global investment bank UBS raised its target to $1,625 citing strong demand for AI memory, while Advanced Micro Devices (AMD) gained 5%, also hitting new highs.
