Google backs TeraWulf’s $19 billion Anthropic lease with credit support

Google is providing credit support for TeraWulf’s $19 billion lease to Anthropic, strengthening the financial standing of the bitcoin miner-turned-data-center operator. The backing is expected to reduce TeraWulf’s borrowing costs and improve investor confidence in the long-term contract. The deal ties one of the largest AI compute leases to Google’s balance sheet, underscoring how hyperscalers are increasingly underwriting AI infrastructure buildouts. TeraWulf shares and its funding terms are the immediate focus, with attention now on whether the credit support lowers the cost of capital for the remaining buildout.