Jefferies Initiates Buy Rating on TeraWulf (WULF) Amid AI Data Center Expansion
Key takeaways
- Jefferies Initiates Buy Rating on Tera Wulf (WULF) Amid AI Data Center Expansion Sheryar Siddiq Tue, June 2, 2026 at 4:37 PM GMT+7 2 min read WULF Tera Wulf Inc.
- Meanwhile, on May 11, Needham boosted TeraWulf Inc.
- Revenue increased 117% quarter-over-quarter to $21 million from HPC lease revenue, which was largely offset by a 50% quarter-over-quarter decrease in mining revenue to $13 million.
Jefferies Initiates Buy Rating on Tera Wulf (WULF) Amid AI Data Center Expansion Sheryar Siddiq Tue, June 2, 2026 at 4:37 PM GMT+7 2 min read WULF Tera Wulf Inc. (NASDAQ:WULF) ranks among the best short-squeeze stocks to invest in. On May 14, Jefferies began coverage on Tera Wulf Inc. (NASDAQ:WULF) with a Buy rating and a price target of $28. The firm characterizes Tera Wulf Inc. (NASDAQ:WULF) as a power-focused digital infrastructure operator with a scalable strategy to acquire brownfield industrial sites with reliable power and transmission networks and transform them into AI data centers.
Meanwhile, on May 11, Needham boosted TeraWulf Inc. (NASDAQ:WULF)’s price target to $28 from $22, retaining a Buy rating on the company’s shares. The firm mentioned the company’s first-quarter revenue of $34 million, which was consistent with Needham’s $35 million projection.
Revenue increased 117% quarter-over-quarter to $21 million from HPC lease revenue, which was largely offset by a 50% quarter-over-quarter decrease in mining revenue to $13 million. However, the adjusted EBITDA of negative $4.1 million fell short of both Needham’s $2.5 million projection and management’s previously indicated number of $0 to $3 million.