TeraWulf (WULF) Hits All-Time High as Funds Flock to AI

We recently published 10 Big Names With Whopping Gains; 6 Jump All-Time Highs. TeraWulf Inc. (NASDAQ:WULF) is one of the best performers on Thursday.

TeraWulf extended its winning streak to a 7th consecutive day on Thursday, to hit a new record high as investors continued to pour funds into AI stocks, buoyed by technology giants’ dealmaking activities to accelerate the sector.

During the trading session, TeraWulf Inc. (NASDAQ:WULF) soared to its highest price of $13.74 before paring gains to finish the day just up by 10.49 percent at $13.59 apiece.

The rally was boosted by overall optimism for stocks benefiting from AI, with Bitcoin mining firms found critical in helping accelerate their developments by providing high-performance computing (HPC) and AI workloads.

In August this year, TeraWulf Inc. (NASDAQ:WULF) inked a 10-year lease agreement with Fluidstack for the delivery of 360 MW of critical IT load from the former’s Lake Mariner data center campus in New York. The agreement received financial backing from Google after the latter took a 14 percent stake in TeraWulf Inc. (NASDAQ:WULF).

While we acknowledge the potential of WULF as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.