News about AI infrastructure

Shares of AI infrastructure companies rebounded after a steep selloff driven by financing concerns, with TeraWulf up 6% to $12.42, Applied Digital up 8% to $19.54 and IREN up 5% to 28.41. The CoinShares Bitcoin Mining and Digital Power ETF (WGMI), which held these stocks, rose 6% while the SPDR S&P 500 ETF Trust gained 0.46%. TeraWulf, shifting from Bitcoin mining to AI leasing, generated over 70% of its Q2 2026 revenue from high-performance computing leases, and its largest contract is a 20-year lease with Anthropic for 401 megawatts worth $19 billion. The company doubled the power commitment for its Muskie campus in Kentucky under an expanded agreement with Kentucky Power, but its tenant search there is unresolved. The article cautions that the rebound may fade, since TeraWulf's Justified and Muskie campuses are not due to deliver capacity until the second half of 2027 or later.