Fermi

📢 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.

$Fermi(FRMI.US) | Citizens 𝗿𝗲𝗶𝘁𝗲𝗿𝗮𝘁𝗲𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝗢𝘂𝘁𝗽𝗲𝗿𝗳𝗼𝗿𝗺 on 𝗙𝗲𝗿𝗺𝗶, maintains PT at $𝟯𝟬

Analyst sees TensorWave’s 222MW lease as proof of concept at an attractive price point, while flagging credit support and financing.

📢 𝗝𝗨𝗦𝗧 𝗜𝗡: $Fermi(FRMI.US) Fermi Signs 15-Year TensorWave AI Data Center Lease Worth Approximately $6.5 Billion - $AMD(AMD.US)

👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:

➤ 𝗙𝗲𝗿𝗺𝗶 signs binding lease with AI cloud provider 𝗧𝗲𝗻𝘀𝗼𝗿𝗪𝗮𝘃𝗲.

➤ Agreement represents approximately $𝟲.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in contracted revenue.

➤ Initial lease term spans 𝟭𝟱 𝘆𝗲𝗮𝗿𝘀, with two five-year renewal options.

➤ Facility will receive 𝟮𝟮𝟮 𝗠𝗪 of total power capacity.

➤ Phased facility delivery is scheduled to begin in 𝗛𝟮 𝟮𝟬𝟮𝟳.

➤ Expansion rights could increase partnership capacity beyond 𝟲𝟱𝟬 𝗠𝗪.

➤ Facility could support tens of thousands of 𝗔𝗠𝗗 𝗜𝗻𝘀𝘁𝗶𝗻𝗰𝘁 𝗚𝗣𝗨𝘀.

➤ 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗠𝗮𝘁𝗮𝗱𝗼𝗿 has approximately 𝟲 𝗚𝗪 of planned 𝟭𝟳 𝗚𝗪 permitted.

➤ Fermi has invested more than $𝟭.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 in the buildout.

➤ Project's first power remains targeted for 𝟮𝟬𝟮𝟲.

👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:

➤ $𝟲.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 contract provides significant long-term revenue visibility for Fermi.

➤ Expansion beyond 𝟲𝟱𝟬 𝗠𝗪 could substantially increase the partnership's scale.

➤ Deployment strengthens 𝗔𝗠𝗗's exposure to large-scale AI training and inference.

➤ Deal validates demand for Fermi's massive 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗠𝗮𝘁𝗮𝗱𝗼𝗿 AI campus.