Fermi America Logs a Loss as It Preps Data Center Site

Dow Jones11-11

By Katherine Hamilton

Fermi America recorded a loss in the third quarter as the start up prepares a site for its ambitious data-center project.

The energy company on Monday posted a loss of $346.8 million, or 84 cents a share, in the three-months ended Sept. 30. Since its inception in January the company has recorded a loss of $353.2 million, or 95 cents a share.

Fermi, which started trading publicly on Oct. 1, has yet to generate any revenue.

The startup is backed by former Energy Secretary Rick Perry. It has plans to build four large nuclear reactors in Texas to fuel AI data centers. It aims to build a data center by 2038 that would be powered by 11 gigawatts of electricity. The first reactor is slated to be completed by 2032.

In the third quarter, Fermi began a 99-year lease with Texas Tech University, giving it long-term control over its site in the Texas panhandle. It also cleared an 85-acre site to begin construction preparations.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

November 10, 2025 17:56 ET (22:56 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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