AI TRENDS | Bank of America Starts TeraWulf Coverage With Buy Rating and $34 Price Target

Bank of America initiated coverage of TeraWulf with a buy rating and a $34 price target, citing a favorable view of the company’s shift from Bitcoin mining toward AI data centers. According to NS3.AI, analyst Michael Funk pointed to growing demand for facilities that support AI as a key factor behind the call. The note described TeraWulf’s move into AI-focused data center infrastructure as a positive strategic pivot.