Anthropic signs a $19B, 20-year data-center lease with TeraWulf in Kentucky
Anthropic signed a 20-year lease with TeraWulf for a 401 MW purpose-built AI campus on a former aluminum-smelter site in Hawesville, Kentucky, expected to generate ~$19B in contracted revenue and ramping to full capacity by early 2028. Unlike its cloud-provider deals, this is a directly controlled site — fixed long-term pricing plus command over hardware and cooling — a marker of frontier labs locking in power and buildout a decade out rather than renting compute.
Source: investors.terawulf.com ↗
Our strategy is centered on owning and operating critical infrastructure assets, maintaining direct relationships with our customers, and controlling the long-term evolution of our campuses.
Paul Prager, TeraWulf CEO
Why this matters
- → Anthropic secures dedicated power infrastructure for decade-long AI scaling.
- → Frontier labs moving from cloud rental to owned data-center control.
- → Fixed long-term pricing locks in compute costs amid energy scarcity.
AI's infrastructure lock-in