Company
Fermi America and Project Matador
Fermi America (Fermi Inc., traded as FRMI on Nasdaq and the London Stock Exchange) is developing Project Matador, a private-grid AI data center campus on land leased from the Texas Tech University System in Carson County, near Amarillo, Texas. The Census tracks the project with its filings and news; the sourced company profile follows.
- Under construction 1
Ranked #1 of 59 developers by the published capacity of its tracked projects that are proposed, approved, under construction or operating, as developer or operator (17 GW). See the ranking →
| Project | Status | Capacity | Developer | Last update |
|---|---|---|---|---|
| Fermi America Project Matador Amarillo, Carson County, TX |
Under construction | 17 GW | Fermi America | Sep 22, 2026 |
Latest Fermi America data center news
The newest dated changes at Fermi America’s tracked projects, each from the filing, notice or report linked beside it.
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Fermi America Project Matador TX
Fermi and TensorWave amend their 222 MW lease to move the closing date from Sept. 30 to Oct. 31, 2026, while a lease guaranty is negotiated Fermi America (ACCESS Newswire) -
Fermi America Project Matador TX
Fermi America files a second 5 GW clean air permit application with TCEQ Fermi America (PR Newswire) -
Fermi America Project Matador TX
Fermi America announces electric service agreement with Southwestern Public Service Company for up to 200 MW Fermi America (PR Newswire) -
Fermi America Project Matador TX
Prospective tenant ends letter of intent after exclusivity expires; shares fall DCD
Company profile
| What it does | Fermi America says it builds private electric grids supplying gigawatts of highly redundant power for AI computing (company description, August 2026). [1] |
|---|---|
| Founded | Fermi’s IPO prospectus says the business began as Fermi LLC, formed in Texas as a limited liability company on January 10, 2025. [2] The prospectus names former U.S. Energy Secretary Rick Perry, Toby Neugebauer and Griffin Perry as co-founders. [2] |
| Headquarters | Fermi Inc., a Texas corporation, lists its principal executive offices at 620 S. Taylor St. in Amarillo, Texas, in an August 2026 SEC filing. [3] |
| Leadership | Fermi’s board appointed Lee McIntire, already a company director, as chief executive officer effective August 11, 2026. [3] Co-founder Toby Neugebauer departed as CEO on April 17, 2026, and the company formed an interim office of the CEO. [4] KFDA reported that on April 30, 2026 Fermi terminated Neugebauer’s employment for cause, which removed him from the board; Neugebauer called the board’s actions “completely misguided.” [5] |
| Ownership | Fermi priced its initial public offering of 32.5 million shares at $21.00 each on September 30, 2025; its shares trade as FRMI on Nasdaq (from October 1, 2025) and the London Stock Exchange (from October 2, 2025). [6] |
| Funding | Fermi says it sold more than $431 million of convertible senior notes, paying 5.00% and due in 2031 (Q2 2026 results). [1] |
| Stated footprint | The prospectus describes a 99-year ground lease, dated May 14, 2025, with the Texas Tech University System for about 5,236 contiguous acres in Carson County, Texas. [2] By August 2026 Fermi said it had about 8,400 acres secured or under long-term lease in the Texas Panhandle, and expects Project Matador to ramp to about 17 GW if it signs binding customer agreements (company projection). [1] |
| Notable | Fermi says it signed a 15-year lease with TensorWave, its first customer at Project Matador, for 222 MW of total facility power and about $6.5 billion in revenue over the contract (company-reported). [1] On September 22, 2026, Fermi and TensorWave moved the lease’s closing date from September 30 to October 31, 2026. [7] Fermi America submitted the first part of a combined license application to the Nuclear Regulatory Commission on June 17, 2025, for four AP1000 reactors at the campus; the NRC says it has accepted two of the three parts for docketing. [8] |
- Fermi Announces Second Quarter 2026 Results and Delivers on All Five 90-Day Objectives Fermi Inc. (Newswire press release), 2026-08-13
- Prospectus (Filed Pursuant to Rule 424(b)(4), Registration No. 333-290089) Fermi Inc. (SEC filing), 2025-09-30
- Form 8-K (appointment of Chief Executive Officer) Fermi Inc. (SEC filing), 2026-08-11
- Form 8-K (departure of Chief Executive Officer) Fermi Inc. (SEC filing), 2026-04-17
- Former Fermi Inc. CEO terminated from company KFDA NewsChannel 10, 2026-04-30
- Fermi America Announces Pricing of Initial Public Offering Fermi America (PR Newswire), 2025-09-30
- Fermi and TensorWave Agree to Extend Closing Date to October 31, 2026 Fermi America (ACCESS Newswire), 2026-09-22
- Fermi America Project Matador Advanced Energy and Intelligence Campus AP1000 Units 1-4, Combined License Application U.S. Nuclear Regulatory Commission, 2026
Company self-descriptions and stated figures are the company’s own claims, dated where the source gives a date.
Fermi is a publicly traded company, and nothing here is investment advice. Planned capacity, lease revenue and schedules are the company’s own statements and projections, labeled as such in the profile.
This page lists projects in the Census where Fermi America is named as developer by a cited source. It is not a complete list of the company’s facilities, and this page is not affiliated with or endorsed by Fermi America.