10:33 AM EDT, 10/28/2025 (MT Newswires) -- TeraWulf ( WULF ) shares rose by more than 22% in recent Tuesday trading after the company reported higher Q3 preliminary revenue and said that it has formed a joint venture to ramp AI computing capacity.

The company said it expects revenue for the three months ended Sept. 30 of $48 million to $52 million, up from $27 million a year earlier.

Analysts polled by FactSet expect $56.3 million.

TeraWulf ( WULF ) said separately that it has formed a joint venture with AI cloud platform operator Fluidstack to construct and operate a 168-megawatt computing facility in Texas.

The project includes a 25-year hosting agreement valued at around $9.5 billion. TeraWulf ( WULF ) will own 51% of the JV, expected to be operational in H2 2026, according to the company.

Price: 16.86, Change: +3.22, Percent Change: +23.57