Movement Alert｜Fermi Inc. Rises 19.05% Overnight, Signs First Binding Lease Agreement at Project Matador

Market Focus08-11

On August 11, Fermi Inc. rose 19.05% overnight, trading at $7.0/share, with turnover of $1,833.04.

On the news front, Fermi Inc. announced it has signed its first binding customer lease agreement at its Project Matador campus in Texas with TensorWave TEX1, a subsidiary of TensorWave. The agreement covers a facility supported by 222 megawatts of total power upon final delivery and carries an initial term of 15 years, with the first phase expected to generate approximately $6.5 billion in revenue. The deal also includes expansion rights for two additional data centers that would bring the partnership to more than 650 MW if exercised.

Project Matador's first power delivery is targeted for this year, with construction already underway and permits secured for approximately 6 GW of the planned 17-GW campus. Additionally, Fermi Inc. is scheduled to report quarterly earnings on August 13 before market open, with consensus estimates projecting revenue of $184 million, representing 46.26% year-over-year growth.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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