FRMI - Fermi Inc. Common Stock
Fermi Inc. is rated Strong Buy, with a transformative tenant deal and major project catalysts sharply improving its risk-reward profile. FRMI's turbine and permit capacity position it to capture surging AI compute demand. Governance drama has eased, and Fermi 2.0 delivered, opening the path for further tenant signings and a re-rating.
The startup, which went public in a splashy IPO last year, also named a new CEO following months of legal and C-suite turmoil.
Fermi reported zero revenue for the fourth consecutive quarter, missing analyst estimates of $72 million to $148 million. The company is still in pre-revenue mode while burning borrowed cash on massive construction projects.
Fermi Inc. (FRMI) Q2 2026 Earnings Call Transcript
Fermi NASDAQ: FRMI said it completed each of the five priorities outlined in its prior 90-day plan, including signing a binding customer agreement for up to 650 megawatts of capacity, strengthening its balance sheet and advancing construction and partnership efforts at its Project Matador campus.
Fermi (NASDAQ: FRMI | FRMI Price Prediction) reported Q2 2026 results before the open, and the numbers were beside the point.
Fermi posts a net loss of 4 cents a share in the second quarter, wider than a year ago. The stock has risen this week following a big announcement Monday.
Company Signed Its First Anchor Customer, Named a CEO, Added a Strategic Alliance and Premier Contractors, Received Three F-Series Turbines and Raised More Than $431 Million of Shareholder-Friendly Capital DALLAS, TX / ACCESS Newswire / August 13, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced full execution of the 90-day plan provided in May. The Company established significant momentum and took a major step toward delivering its large-scale, reliable private power grid for AI and advanced computing.
Fermi, the AI nuclear power firm, has named a new CEO more than three months after firing co-founder Toby Neugebauer from the top executive post.
Engineering executive with more than 40 years of experience building and operating complex global industrial and governmental projects at Bechtel, CH2M Hill, and TerraPower DALLAS, TX / ACCESS Newswire / August 12, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today named Lee McIntire Chief Executive Officer, effective Tuesday, August 11, 2026. McIntire has served as an independent director on Fermi's Board since September 2025.
Fermi Inc. (NASDAQ: FRMI - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders bought 95,560 call options on the company. This is an increase of approximately 63% compared to the typical volume of 58,756 call options. Fermi Stock Up 21.1% FRMI stock opened at $7.12 on Wednesday. Fermi has
A multibillion-dollar deal is a strong demand signal for investors. Fermi has the power that its AI customers need.
Doubles Fermi power to market to 4.8 gigawatts (GW) over the next ~30 months Build-Own-Operate-Transfer structure accelerates one of America's largest AI campus power programs - with no capital outlay by Fermi DALLAS, TX / ACCESS Newswire / August 11, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), announced the execution of a framework agreement with Hillcore Energy Capital Corporation ("Hillcore") under which Hillcore will finance, build, own and operate the Hillcore Power Center, an approximately 2.6 GW power complex at Fermi's Project Matador campus in Carson County, Texas, under a Build-Own-Operate-Transfer (BOOT) structure. The Hillcore Power Center will comprise approximately 2.5 GW of natural gas-fired generation, developed in phases, together with approximately 100 megawatts (MW) of solar generation and battery energy storage.
DENVER, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Quantum Corporation (NASDAQ: QMCO), NIQ Global Intelligence (NYSE: NIQ), Fermi (NASDAQ: FRMI), and NeOnc Technologies (NASDAQ: NTHI) are delivering a powerful mix of catalysts from very different corners of the market. Several are moving on developments that could reshape their stories well beyond a single trading session, while the market continues to reward companies that can connect themselves to some of the biggest themes of 2026, like NeOnc, which heads into Wednesday with perhaps the most binary catalyst of the group: topline Phase 2a brain-cancer data that could materially alter how investors value its NEO100 program.
Shares of Fermi surged in trading on Tuesday after the data center developer announced it had secured its first major tenant for its Project Matador campus in Amarillo, Texas. The stock FRMI climbed 23% to $7.24 after the company disclosed a 15-year lease agreement with AI cloud provider TensorWave.
Fermi remains a high-risk, speculative play despite a 78% post-IPO decline and a recent 20% rally on its first tenant announcement. FRMI's ambitious 17GW Texas data center campus faces major construction, financing, and execution risks, especially regarding nuclear buildout feasibility and cost overruns. The initial TensorWave lease is small (222 MW, $6.5B revenue, 15 years) but demonstrates the company can sign customers and supports $2-3/share in equity value.
Two AI power infrastructure stocks are surging in premarket trade after separate catalysts raised the same urgent question: how much runway is left in the race to lock up gigawatts for hyperscale AI.
Fermi announces a $6.5 billion lease contract with AI cloud provider TensorWave.
Intends to grow the partnership to more than 650 megawatts (MW) over three phases First phase to deliver a complete turnkey data center solution with 222 MW beginning in the second half of 2027, representing approximately $6.5 billion in total contracted revenue Fermi and TensorWave have lined up world-class partners to collaborate on the project and expect certain of the obligations under the lease to be guaranteed by one of the global leaders in AI DALLAS, TX / ACCESS Newswire / August 10, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), announced today that it has executed its first binding customer lease at its Project Matador campus in Carson County, Texas. The lease between Fermi's subsidiary Fermi Campus 1 LLC and TensorWave TEX1, LLC, a subsidiary of AI cloud provider TensorWave Inc., covers a facility supported by 222 megawatts (MW) of total facility power following commencement of the final delivery phase.
Fermi is trying to build a massive power grid for private use cases, like data centers. The company has quickly burned through capital and delayed its production timeline.