---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000852658.md"
description: "📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $Fermi(FRMI.US) Fermi Signs First Customer, Secures $6.5 Billion Contract and Raises $431 Million👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:➤  𝗙𝗲𝗿𝗺𝗶 signs 𝗧𝗲𝗻𝘀𝗼𝗿𝗪𝗮𝘃𝗲 as Project Matador's first customer.➤  15-year lease covers 𝟮𝟮𝟮 𝗠𝗪 of total facility power.➤  Contract represents approximately $𝟲.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in projected lifetime revenue.➤  Fermi issued over $𝟰𝟯𝟭 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 of 𝟱.𝟬𝟬% convertible notes.➤  Notes generated $𝟰𝟭𝟲.𝟴 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 in net proceeds before capped-call costs.➤  Fermi reported a Q2 net loss of $𝟮𝟱.𝟴 𝗺𝗶𝗹𝗹𝗶𝗼𝗻.➤  𝗟𝗲𝗲 𝗠𝗰𝗜𝗻𝘁𝗶𝗿𝗲 was appointed Fermi's new chief executive officer.➤  𝗛𝗶𝗹𝗹𝗰𝗼𝗿𝗲 alliance targets approximately 𝟮.𝟲 𝗚𝗪 of incremental power generation.➤  Fermi's landed power assets reached 𝟭.𝟱 𝗚𝗪 following turbine deliveries.➤  Total assets stood at $𝟭.𝟳𝟲 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 as of June 30.👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:➤  First customer provides major 𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝘃𝗮𝗹𝗶𝗱𝗮𝘁𝗶𝗼𝗻 for Project Matador.➤  $𝟲.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 contract creates substantial long-term potential revenue visibility.➤  New financing strengthens liquidity as Fermi develops capital-intensive 𝗔𝗜 𝗽𝗼𝘄𝗲𝗿 infrastructure.➤  Planned 𝟮.𝟲 𝗚𝗪 expansion could significantly increase Project Matador's power capacity.➤  Execution remains critical as Fermi is 𝗽𝗿𝗲-𝗿𝗲𝘃𝗲𝗻𝘂𝗲 with substantial debt and losses."
datetime: "2026-08-13T11:16:51.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000852658.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000852658.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000852658.md)
author: "[Hardik Shah](https://longbridge.com/en/profiles/27423834.md)"
generator: "portal-rs"
---

# 📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $Fermi(FRMI.US) Fermi Signs First Custo…


### Related Stocks

- [FRMI.US](https://longbridge.com/en/quote/FRMI.US.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**