Mentioned:
TeraWulf has just pulled off a mega new deal for high performance computing. And it’s being guaranteed by Google.
What’s happening:
- TeraWulf (NASDAQ: WULF) has cut two new significant deals with United Kingdom based cloud computing company Fluidstack to provide them with 200 megawatts of computing power at their Lake Mariner data centre located in New York
By the numbers:
- TeraWulf will provide Fluidstack with access to computing power over the span of 10 years, with the first 40 megawatts of power to be deployed within 12 months
- Fluidstack will spend $3.7B USD over their initial 10 year contract with TeraWulf
- Google (NASDAQ: GOOG) is guaranteeing $1.8B USD of Fluidstack’s lease obligations with TeraWulf in exchange for warrants in TeraWulf, which will give Google roughly an 8% ownership stake in TeraWulf
Why it matters:
- This is the single largest deal that TeraWulf has ever done for high performance computing in terms of both total power capacity and revenue
Going deeper:
- Fluidstack is one of the most important providers of GPU infrastructure in Europe and currently manages over 100,000 GPUs
- Some of the top artificial intelligence startups and research labs in the world use Fluidstack for access to GPUs, including both Mistral AI and Poolside
The intrigue:
- This is the first time ever that Google has guaranteed a lease in exchange for receiving equity exposure in a publicly traded company
