The complex corporate web behind a $3.2 billion AI data center

A fire broke out at the unfinished Lake Mariner data center in Somerset, New York, exposing missing alarms, a non-functional suppression system, three dead hydrants and burned safety documents that hid hazardous chemicals. The $3.2 billion campus is owned by TeraWulf, leased from a company controlled by its CEO, operated by UK-based Fluidstack, with Google holding warrants for a 14 percent equity stake and guaranteeing Fluidstack’s lease payments, and Anthropic among the AI firms slated to use its compute capacity.