Fermi America Stock Tumbles After Tenant Terminates $150 Million Construction Agreement for Project Matador

MT Newswires Live2025-12-12

Fermi America shares fell by more than 40% in premarket activity Friday after the company disclosed that an investment grade-rated tenant has terminated a $150 million construction funding agreement for its Project Matador site in Texas.

The Advance in Aid of Construction Agreement, signed in November, had committed the tenant to advance up to $150 million, although no funds had been drawn, Fermi America said Friday.

The company said that negotiations continue over the terms of a lease agreement for the site and added that it "remains confident that it will be able to meet its expected power delivery schedule" as demand for behind-the-meter power for AI applications remains "robust."

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