TeraWulf (NASDAQ:WULF) soared 16.52% to $16.65 after Morgan Stanley gave it an Overweight rating and $37 target, praising its AI-focused data centers. Trading volume hit 64.4 million shares, up 94% from its three-month average, and the stock has surged 1,276% since going public in 1994.

The S&P 500 and Nasdaq rose on Monday, while bitcoin miners Mara Holdings (MARA) and Riot Platforms (RIOT) had mixed performances. TeraWulf’s rally was fueled by Morgan Stanley’s endorsement, focusing on its potential as an AI infrastructure operator.

Morgan Stanley highlighted TeraWulf’s energy flexibility between bitcoin mining and AI data centers, setting it apart from other crypto companies. The shift in analyst sentiment follows Needham’s Buy rating and Google partnership news, with investors monitoring AI revenue growth and power asset conversions.

TeraWulf was not among the Motley Fool’s 10 best stocks to buy now, despite its recent surge. The Stock Advisor’s top picks historically outperform the market significantly, offering insights on potential high-return investments for individual investors.

Read more at Yahoo Finance: TeraWulf Jumps After Morgan Stanley Initiates Coverage With Bullish AI View