Alphabet credit backstop for Anthropic lease at Justified campus
Company: TeraWulf
The claim, verbatim
TeraWulf secured a credit backstop from Alphabet for its Anthropic data center project; Google's support backstops Anthropic's obligations through either a mandatory lease assumption or a debt-reducing termination payment, which the CEO said materially strengthens the project's financing profile.
Source (primary)
TeraWulf Rises 4% After Q3 Beat and Google-Backed Anthropic Lease; IREN Surges 17%, Cipher Digital Climbs 6% - 24/7 Wall St. (-, news_article)
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Quote: “TeraWulf executive Patrick Fleury stated that Google's support backstops Anthropic's obligations through either a mandatory lease assumption or a debt-reducing termination payment”
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Additional evidence
confirms TeraWulf Rises 4% After Q3 Beat and Google-Backed Anthropic Lease; IREN Surges 17%, Cipher Digital Climbs 6% - 24/7 Wall St.
Quote: “TeraWulf executive Patrick Fleury stated that Google's support backstops Anthropic's obligations through either a mandatory lease assumption or a debt-reducing termination payment”