Nasdaq-listed Bitcoin mining stock TeraWulf (WULF) went parabolic in the charts after Google became its largest shareholder. In the last five days, WULF surged 60% and is among the top-performing equities in the markets. It reached a 52-week high of $10.71 and slid in the charts after the market dipped on Tuesday, reaching $8.78.

Google acquired a 14% stake in TeraWulf and is betting big on the Bitcoin mining stock. The search engine giant is now its largest shareholder after investing $3.2 billion by purchasing 73 million shares of the company. The development made several retailers take an entry position in WULF, hoping to ride the bullish wave of Google’s accumulation.

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Why Did Google Invest In Bitcoin Mining Stock TeraWulf?

Google did not invest in TeraWulf stock because the company mines Bitcoin; it became its largest shareholder because the firm announced a strategic AI infrastructure expansion. The seismic shift makes TeraWulf throw its hat into the $1.01 trillion AI market by 2030. Therefore, the company is now transitioning from being a Bitcoin mining firm to working towards providing a robust AI infrastructure.

CEO Paul Prager called Google’s support “an extraordinary vote of confidence from one of the most influential players in AI.” After Google became the largest shareholder of Bitcoin mining firm TeraWulf, analysts upgraded the stock, giving a ‘strong buy’ call. Leading stock market prediction firm TipRanks revised WULF forecast, estimating a price surge to $14.

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The analytical firm also wrote that the minimum price for TeraWulf stock would be around the $11 range. That’s a bullish price forecast, and if WULF reaches $11, it would deliver a return of 40%. However, if its price hits the $14 mark as predicted, it would surge 75% in the charts. That’s phenomenal returns if the forecast turns out to be accurate. An investment of $1,000 could turn into $1,750 post-Google’s interest in the Bitcoin mining stock TeraWulf.