Fermi America is partnering with Hyundai E&C to build massive nuclear plants for Project Matador in Texas. This could power AI data centers and restart large-scale US nuclear construction.
Fermi's stock plummeted 35% Friday after a potential tenant terminated a $150 million funding agreement for its Texas data center project, raising concerns for the newly public company.
Fermi America posts $346.8M Q3 loss while preparing Texas site for ambitious AI data center powered by nuclear reactors. First gigawatt capacity expected by 2026.
Stifel and Rothschild initiate Buy ratings on Fermi with $29-$31 price targets, citing unique power solutions for AI data centers and attractive growth potential.
Amarillo, Texas-based Fermi Inc., co-founded by Rick Perry, saw shares surge 55% in its IPO, capitalizing on the booming demand for power infrastructure to support global AI growth, despite lacking current revenue.
