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.
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Fermi America (NASDAQ: FRMI) will release first quarter 2026 financial results on Thursday, May 14, 2026 at 7:00 a.m. ET / 12:00 p.m. BT, followed by an earnings conference call at 9:00 a.m. ET / 2:00 p.m. BT.
The earnings release and supplemental materials will be posted to the company Investor Relations website before the call. The live call is dial-in accessible and webcast in listen-only mode; a replay will be available for one year.
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Fermi (NASDAQ: FRMI) appointed Larry Kellerman to its Board of Directors as an independent director, effective following a Board election on May 4, 2026. Kellerman brings four decades of electric power industry leadership and experience at the intersection of regulated utility operations and technology-driven commercial innovation.
He was nominated pursuant to designation rights held by an affiliate of Toby Neugebauer and said he intends to represent all shareholders. The appointment is presented as part of the Board's oversight of Fermi's strategic priorities for its utility-scale private grid efforts.
Fermi (Nasdaq: FRMI) — Toby Neugebauer called a Special Meeting of Shareholders for May 29, 2026 and filed preliminary proxy materials to nominate a five-person slate and solicit votes via a BLUE proxy card. Neugebauer and affiliates report ~40% ownership; he seeks a dual-track strategic process including M&A to maximize value for Project Matador.
Key developments: 99-year ground lease with Texas Tech, ~2 GW secured power, ~6 GW Clean Air Permit, ~$1B financing (including $500M from MUFG), NRC license submission and participation in NRC EIS pilot, Hyundai E&C partnership, major long-lead equipment orders.
Fermi America (NASDAQ: FRMI) announced that Toby Neugebauer, co-founder and largest shareholder, nominated Larry Kellerman to join the company's board of directors on May 1, 2026. Kellerman is Chief Power Officer and led design of Fermi's 17-gigawatt powered data center campus in Amarillo, Texas.
Kellerman brings more than four decades of power-industry and finance experience, including roles at Goldman Sachs, El Paso Corporation, and I Squared Capital; he said he would serve if approved by the Board.
Fermi (NASDAQ: FRMI) announced on April 30, 2026 that Rob L. Masson II was appointed Interim Chief Financial Officer. Masson brings over two decades of public‑company financial leadership, prior CFO roles, a Harvard MBA, and prior US Navy service.
The appointment supports Fermi's stated focus on talent, governance enhancements, and advancing Project Matador as the company scales.
Fermi (NASDAQ: FRMI) on April 22, 2026 provided a business update following its April 20 Fermi 2.0 announcement. The company reported significant positive feedback from multiple potential tenants, its landlord, Texas Tech University System, suppliers, contractors and financing sources.
The company acknowledged a letter and press release from Mr. Toby Neugebauer calling for an immediate sale after his removal on April 17, 2026. The Board said a sale is not currently viewed as in shareholders' best interest and will evaluate all avenues to maximize value, including executing Fermi 2.0, strategic investments, joint ventures, or other transactions tied to Project Matador.
Fermi (NASDAQ: FRMI) provided a business update on April 21, 2026, following its April 20 Fermi 2.0 announcement. The company reports significant positive feedback from potential tenants, its landlord, suppliers, contractors and financing sources, and says it is pursuing Fermi 2.0 objectives with deliberate speed.
The company acknowledged receipt of a letter and press release from Mr. Toby Neugebauer, who was removed from his position on April 17, 2026. The Board said a sale is not in the company’s best interest and will review all avenues to maximize shareholder value, including continued execution, strategic investments, joint ventures, or other transactions.