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Fermi Inc.
IPOFRMI.NASDAQPast

Fermi Inc.

REIT

Company website ↗
Foundation year: 2025
Market capitalization
$11961.4mil
Employees
1
IPO date
30/09/2025

About

Fermi Inc.’s mission is to power the artificial intelligence (AI) needs of the future. The company is an advanced energy and hyperscaler development firm purpose-built for the AI era. Fermi Inc. aims to deliver up to 11 gigawatts (GW) of low-carbon, HyperRedundant™, and on-demand power directly to the world’s most compute-intensive businesses, with 1 GW of power projected to be online by the end of 2026.

Fermi Inc. has entered into a long-term lease on a site large enough to simultaneously accommodate the next four largest data center campuses by total square footage currently in existence. In a world where power is viewed as a critical currency for AI innovation, the company believes it possesses a unique combination of advantages that will help drive the growth of America’s AI economy. Fermi Inc. provides investors with the opportunity to participate in AI-driven growth and grid-independent energy infrastructure through a tax-efficient public real estate investment trust (REIT) structure.

At the core of Fermi Inc.’s vision is the Advanced Energy and Intelligence Campus at Texas Tech University (“Project Matador”), a multi-gigawatt energy and data center development campus designed to support the rapidly expanding needs of AI infrastructure. Located on a 5,263-acre site in Amarillo, Texas, Project Matador is secured by Fermi Inc. under a 99-year Ground Lease Agreement on land owned by the Texas Tech University System (as amended, the “Lease”). The company believes this arrangement will ensure long-term site control and create potential efficiencies through its partnership with a public university.

Headquarters

600 S. Tyler St. Suite 1501 Amarillo, TX 79101

Financial information

Underwriters

UBS Investment Bank, Evercore ISI, Cantor, Mizuho, Macquarie Capital, Rothschild & Co., Stifel, Truist Securities, Berenberg, Panmure

Prospectus ↗
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