Dec 17 (Reuters) - Amazon (AMZN.O) is the prospective tenant that withdrew funding from REIT Fermi’s (FRMI.O) massive data-center project, Business Insider reported on Wednesday, citing the data center’s CEO Toby Neugebauer.
Fermi and Amazon did not immediately respond to Reuters’ requests for comment. Reuters could not immediately verify the report.
Last Friday, Fermi said a prospective tenant had terminated a deal to help fund construction at its Texas site without disclosing its identity. Its shares dropped 34% after the announcement.
Under the terms of the agreement, the customer would have leased part of Fermi’s Project Matador site in Texas and could have provided up to $150 million to help finance construction.
Neugebauer told Business Insider that talks between Fermi and the tenant remained “constructive”, and that the ending of the so-called Advance in Aid of Construction Agreement did not indicate any breakdown in conversation.

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Amazon withdrew funding from REIT Fermi's data-center project in Texas, causing Fermi's shares to drop 34%. The deal, which could have provided up to $150 million for construction, was terminated. Fermi's CEO stated that talks with Amazon remain constructive despite the termination.

- Amazon is reported to be the tenant that withdrew funding from REIT Fermi’s data-center project, leading to a 34% drop in Fermi's shares.  
- The agreement would have seen Amazon lease part of Fermi’s Project Matador site in Texas and potentially provide up to $150 million for construction.  
- Fermi's CEO stated that discussions with the tenant remain constructive, despite the termination of the funding agreement.

Amazon is prospective tenant that withdrew funding from Fermi's project, Insider reports