Google adds credit support to TeraWulf's $19 billion Anthropic campus lease
TeraWulf filed three Google backstop agreements for Anthropic's approximately $19 billion, 401 MW lease at its Justified data campus and a definitive Fluor engineering, procurement and construction agreement. The credit support becomes effective by data-hall phase, with deliveries expected from late 2027 through the second quarter of 2028.
Why it matters: The backstops make a very large future AI-infrastructure lease more financeable and show how hyperscaler credit is being used to underwrite capacity for a frontier-model developer before the campus is operating.