Fermi Stock Gains 22%

(RTTNews) - Fermi Inc. (FRMI) shares rose $1.31, or 22.35 percent, to $7.19 on Tuesday, possibly after the company announced its first binding customer lease yesterday, at its Project Matador campus in Texas with AI cloud provider TensorWave.

The stock opened at $7.09 and traded between $6.78 and $7.39 during the session on the Nasdaq. It has traded in a 52-week range of $4.47 to $36.99. Trading volume reached 28.76 million shares, compared with an average daily volume of 18.99 million shares.

The 15-year lease covers a 222 MW facility and is expected to generate approximately $6.5 billion in contracted revenue for the first phase. The facility is designed to support tens of thousands of next-generation AMD Instinct GPUs, with phased delivery beginning in the second half of 2027. Expansion rights could increase the partnership's capacity to more than 650 MW.