TeraWulf and Fluidstack Launch 168 MW AI Compute Joint Venture
TeraWulf Inc. and Fluidstack have established a significant joint venture to develop a high-performance computing (HPC) platform. This partnership is expected to deliver 168 megawatts (MW) of critical IT load at a site in Abernathy, Texas, aimed at supporting global AI workloads. The joint venture, announced on October 28, 2025, marks a pivotal step in TeraWulf’s growth strategy.
TeraWulf and Fluidstack Joint Venture Overview
- Capacity: 168 MW of critical IT load.
- Contract Value: Approximately $9.5 billion over a 25-year term.
- TeraWulf Ownership: 51% majority stake in the joint venture.
- Google Involvement: $1.3 billion support for project debt financing.
- Project Delivery: Expected in the second half of 2026.
The facility will cater to a large hyperscale AI platform that focuses on developing advanced foundation models. This venture also allows TeraWulf to expand its HPC capabilities, growing its total contracted capacity to over 510 MW.
Expansion and Future Growth
With the establishment of this joint venture, TeraWulf is poised for significant expansion. The company aims to contract an additional 250 to 500 MW of critical IT load annually. The joint venture has exclusive rights to partner on similar upcoming Fluidstack projects, further amplifying growth opportunities.
Market Context and Strategic Partnerships
TeraWulf’s collaboration with Fluidstack is a strategic move to enhance its position in the rapidly evolving AI infrastructure market. The backing from Google not only strengthens the venture’s financial foundation but also enhances credit quality for the associated project debt. This partnership signifies a commitment to developing robust, sustainable infrastructure capable of supporting next-generation AI workloads.
Conclusion
The collaboration between TeraWulf and Fluidstack heralds a new era in AI computing infrastructure. With substantial investments and clear growth targets, the joint venture is set to make significant contributions to the digital landscape, laying a strong foundation for future developments in high-performance computing.
