Fermi Shares Climb Premarket With AMD Support Agreement, Partnership
By Robb M. Stewart
Fermi's shares jumped after the signing of a credit support agreement with Advanced Micro Devices to support a lease for phase one of the private electric grid developer Project Matador energy and artificial intelligence buildout in Carson County, Texas.
In premarket trading, Fermi's shares were 12% higher at $3.65. That will narrow a 59% drop year-to-date as of Monday's close at $3.25.
Fermi said it was partnering with the semiconductor company to help drive the first phase of the project with 222 megawatts of gross power capacity. The agreement represent a milestone toward securing project financing, it said.
The two companies signed an agreement outlining a framework for future expansion of up to 650 megawatts of gross power capacity.
The Project Matador site in the Texas Panhandle is secured or under long-term lease with more than $1.5 billion invested in buildout to date. The project is expected to ramp to approximately 17 gigawatts, with capital deployment matched to commercial commitments, Fermi said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
October 13, 2026 09:42 ET (13:42 GMT)
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