Welcome to our dedicated page for Fermi news (Ticker: FRMI), a resource for investors and traders seeking the latest updates and insights on Fermi stock.
Fermi Inc., operating as Fermi America, develops private electric grids and site infrastructure for AI compute and high-performance computing customers. Its Project Matador campus is described as a gigawatt-scale private power platform combining private generation, grid power, powered shell buildings, substations, distribution networks, water and cooling systems, and related infrastructure.
Company news commonly covers Project Matador development, equipment and power infrastructure financing, potential tenant and partner activity, earnings releases, and governance matters. Recent updates also address board composition, executive leadership changes, shareholder solicitations, and strategic-plan disputes tied to the company's transition from startup-stage development toward a larger infrastructure enterprise.
Fermi (NASDAQ:FRMI)(LSE:FRMI) reported Q2 2026 results and said it met all five objectives from its May 90‑day plan, advancing Project Matador, a large private power and AI campus in the Texas Panhandle.
The company signed a 15‑year turnkey binding lease with TensorWave, its first anchor customer at Project Matador, covering 222 MW of facility power and approximately $6.5 billion in total contract revenue, plus options to triple TensorWave’s footprint. Fermi also formed a build‑own‑operate‑transfer alliance with Hillcore for about 2.6 GW of incremental generation, which would raise planned on‑site power to 4.8 GW with Hillcore funding and owning the new plant.
Fermi received three Siemens SGT6‑5000F turbines, bringing landed power assets to 1.5 GW, and continued site buildout, now exceeding $1.5 billion invested. Subsequent to quarter‑end, it issued over $431 million of 5.00% Convertible Senior Notes due 2031 with capped call features aimed at limiting shareholder dilution, and reported a Q2 net loss of $25.8 million while remaining pre‑revenue.
Fermi (NASDAQ:FRMI)(LSE:FRMI) appointed Lee McIntire as Chief Executive Officer, effective August 11, 2026. McIntire has been an independent director on Fermi’s board since September 2025 and is tasked with leading the company as it moves from development to construction and first power at its Project Matador campus.
According to Fermi, McIntire brings over 40 years of global engineering, construction, and infrastructure leadership, including senior roles at Bechtel, CH2M Hill, TerraPower, and McDermott International. Fermi develops next‑generation private electric grids, targeting a 17 GW behind‑the‑meter campus integrating natural gas, nuclear, solar, battery storage, and utility grid power to support hyperscale AI and advanced computing.
Fermi (NASDAQ/LSE: FRMI) announced a framework agreement with Hillcore Energy Capital to develop the Hillcore Power Center, an approximately 2.6 GW power complex at Fermi’s Project Matador AI campus in Carson County, Texas, under a Build-Own-Operate-Transfer structure.
The facility will include about 2.5 GW of natural gas-fired generation plus 100 MW of solar and battery storage, built in phases. The first 350 MW block is scheduled to start construction upon execution of definitive agreements, with first power targeted within 24 months of notice to proceed.
Hillcore and partners will finance, build, own and operate the plant on their balance sheets, enabling Fermi to add dedicated, behind-the-meter power with no upfront capital outlay, while purchasing power only as customer leases are signed. The alliance is expected to approximately double Fermi’s power to market to 4.8 GW over roughly 30 months and includes a 10-year option for Fermi to acquire the facility at fair market value. Project Matador is planned to scale to about 17 GW, with over $1.5 billion invested to date.
Fermi (NASDAQ:FRMI) signed its first binding customer lease at the Project Matador AI data center campus in Carson County, Texas, with TensorWave TEX1, LLC, a subsidiary of AI cloud provider TensorWave. The turnkey lease for phase one covers a facility supported by 222 MW of total facility power once the final delivery phase begins.
The initial 15-year term is expected to generate about $6.5 billion in contracted revenue, excluding renewal options, and includes expansion rights for two additional data centers that could bring the partnership to over 650 MW. Deliveries are planned to start in phases in the second half of 2027, subject to customary conditions such as project guaranties and financing. Fermi reports that roughly 6 GW of the planned 17 GW at Project Matador is already permitted and that more than $1.5 billion has been invested in the buildout, with first power targeted for 2026.
Fermi (NASDAQ, LSE: FRMI) has applied for the admission of 12,127,558 new shares of common stock of $0.001 par value to trading on the Main Market of the London Stock Exchange. The shares relate to settlement of certain advisory fees and vesting of restricted stock units that settle in common stock.
Admission is expected at 8:00 a.m. on 29 July 2026. The new shares are fully paid, rank pari passu and are fungible with existing common stock already listed in London. Following Admission, total voting rights will be 640,467,348 common shares with no treasury shares, a figure shareholders may use for FCA disclosure calculations.
Fermi (NASDAQ:FRMI)(LSE:FRMI) announced that three Siemens Energy SGT6-5000F natural gas turbines, totaling up to 780 MW in simple-cycle mode, have arrived at the Port of Houston for Project Matador, its advanced energy and AI campus near Amarillo, Texas.
The shipment is described as one of the project’s largest single power-equipment moves and supports phase two of the power buildout, alongside six SGT-800 turbines in phase one. Fermi has secured or leased 7,570 acres in the Texas Panhandle and invested over $1.4 billion in site buildout. Subject to binding tenant agreements, Project Matador is expected to ramp to approximately 1.5 GW through 2027 as part of a planned multi-source private grid for AI and advanced computing.
Fermi (NASDAQ & LSE: FRMI) plans to release its second quarter 2026 financial results on Thursday, August 13, 2026 at 7 a.m. Eastern Time / 12 p.m. British Time, followed by an earnings conference call at 9 a.m. Eastern / 2 p.m. British. According to Fermi, the earnings release and supplemental materials will be available in the Investors section of its website before the call.
Investors can join the live call by dialing 888-506-0062 in the U.S. or +1 973-528-0011 internationally and using conference code 587288. The call will also be webcast via the Investor Relations Events & Presentations page, with a replay accessible for one year.
Fermi America develops next-generation private electric grids at gigawatt scale, including the 11 GW behind-the-meter Project Matador campus designed to integrate natural gas, nuclear, utility grid power, solar, and battery storage to support hyperscale AI and advanced computing.
Fermi (Nasdaq:FRMI, LSE:FRMI) detailed the strategic rationale for its upsized offering of $431.25 million aggregate principal amount of 5.00% Convertible Senior Notes due 2031, which includes the full exercise of the initial purchasers' option for an additional $56.25 million.
According to Fermi, the notes are intended to strengthen its balance sheet, enhance liquidity and support execution of Project Matador as the company advances tenant agreements, strategic partnerships and power-delivery milestones. The notes have an initial conversion price of $9.52 per share (a 30% premium to the July 9, 2026 close) and are paired with capped call transactions that effectively raise the conversion price to $14.64 per share, a 100% premium.
Net proceeds were approximately $416.81 million, of which about $34.5 million will fund the capped calls and the remainder will be used for general corporate purposes. Fermi stated the five-year term to July 15, 2031, low coupon, lack of financial maintenance covenants and alignment with nearly $1 billion of existing commitments and more than $1.4 billion invested in Project Matador support parallel progress on multiple commercial tracks.
Summary not available.
Fermi (NASDAQ:FRMI, LSE:FRMI) priced an upsized private offering of 5.00% convertible senior notes due 2031 with an aggregate principal amount of $375 million, plus an option for initial purchasers to buy an additional $56.25 million. The notes are senior unsecured, pay interest semiannually starting January 15, 2027, and mature on July 15, 2031.
The initial conversion rate is 105.0862 shares per $1,000, implying a conversion price of about $9.52 per share, a 30% premium to the July 9, 2026 close of $7.32. Fermi entered capped call transactions that raise the effective conversion price to $14.64 per share (100% premium), aiming to avoid dilution below that level.
According to Fermi, net proceeds are expected to be about $362.25 million (or $416.81 million if the option is fully exercised), of which approximately $30.0–$34.5 million will fund the capped calls, with the remainder for general corporate purposes.