Google to Support TeraWulf's Data Center Financing for Anthropic

Google has entered into agreements to provide credit support for TeraWulf's project to build data centers for Anthropic, the developer of the AI model Claude. The agreements concern the Justified campus in the U.S. state of Kentucky, where it is planned to place computing infrastructure with a capacity of about 401 MW. The expected cost of Anthropic's lease obligations is approximately $19 billion over 20 years.

The agreements were signed on November 4, 2026. Google will provide contractual assurance for certain obligations of Anthropic, which should help TeraWulf attract loan financing for the construction of the complex. The $19 billion represents the expected lease revenue over the entire term of the agreement, rather than the amount of the loan or direct investments by Google.

The initial lease agreement between TeraWulf and Anthropic was concluded in July 2026. It provides for the phased provision of computing capacities at the Justified site in the city of Hawesville. The transfer of the first premises is planned to begin at the end of 2027 and be completed in the second quarter of 2028. Lease payments will be accrued as the respective facilities are commissioned.

How Google's Credit Support Will Work

The three new agreements apply to separate data center buildings. Google's support will come into effect after the transfer of the last premises under the respective lease agreement and will remain until the stipulated conditions are met.

If Anthropic breaches payment obligations or faces insolvency, Google can assume the corresponding lease agreement and settle the due payments. An alternative option under certain conditions provides for compensation for the termination of the agreement with the possibility of acquiring a stake in TeraWulf's subsidiary. The specific mechanism will depend on the circumstances of the breach.

Simultaneously, TeraWulf has entered into an agreement with the engineering and construction company Fluor for the design, procurement of equipment, and construction of three buildings of the Justified complex. The contract provides for cost control, stages of work execution, and contractor liability conditions. The final parameters of the maximum construction cost are still being clarified.

TeraWulf, previously specializing in bitcoin mining, is expanding its activities in the field of infrastructure for artificial intelligence. The new agreements should increase the predictability of lease revenues for creditors, but the size of future loans and the terms of their attraction have not yet been disclosed. Actual expenses and project completion timelines will also depend on the implementation of construction plans.