Welcome to our dedicated page for Fermi news (Ticker: FRMI), a resource for investors and traders seeking the latest updates and insights on Fermi stock.
Fermi Inc. (d/b/a Fermi America) (FRMI) appears frequently in news coverage related to large-scale energy development and artificial intelligence infrastructure. The company describes itself as pioneering next-generation private electric grids that deliver highly redundant power at gigawatt scale, centered on its 11 GW Project Matador campus in the Texas Panhandle.
News about FRMI often focuses on agreements that advance the build-out of Project Matador. Recent announcements include an Electric Service Agreement with Southwestern Public Service Company, a subsidiary of Xcel Energy, to provide up to 200 megawatts of electrical capacity to the campus, and a long-term capital lease with Mobile Power Solutions for GE TM2500 gas turbines to support the first 500 megawatts of generation capacity. These items highlight how Fermi America is assembling power supply and generation assets for its private grid campus.
Coverage also emphasizes environmental and community aspects. The company has announced a non-binding Memorandum of Understanding with MVM EGI to develop hybrid dry–wet cooling towers that prioritize air-based cooling and closed-loop water circulation, with the stated goal of conserving regional water resources. Additional news details agreements with the City of Amarillo and Carson County involving water supply, tax abatement, and a reinvestment zone linked to the 11 GW private grid campus.
Investors and observers following FRMI news can expect updates on regulatory milestones, such as preliminary approval from the Texas Commission on Environmental Quality for natural gas-based power generation, as well as shareholder communications like quarterly letters and earnings call information. This news stream provides context on how Fermi America is progressing with its private grid model for AI-related power demand and its interactions with partners, regulators, and local stakeholders.
Fermi (NASDAQ: FRMI) on April 22, 2026 provided a business update following its April 20 Fermi 2.0 announcement. The company reported significant positive feedback from multiple potential tenants, its landlord, Texas Tech University System, suppliers, contractors and financing sources.
The company acknowledged a letter and press release from Mr. Toby Neugebauer calling for an immediate sale after his removal on April 17, 2026. The Board said a sale is not currently viewed as in shareholders' best interest and will evaluate all avenues to maximize value, including executing Fermi 2.0, strategic investments, joint ventures, or other transactions tied to Project Matador.
Fermi (NASDAQ: FRMI) provided a business update on April 21, 2026, following its April 20 Fermi 2.0 announcement. The company reports significant positive feedback from potential tenants, its landlord, suppliers, contractors and financing sources, and says it is pursuing Fermi 2.0 objectives with deliberate speed.
The company acknowledged receipt of a letter and press release from Mr. Toby Neugebauer, who was removed from his position on April 17, 2026. The Board said a sale is not in the company’s best interest and will review all avenues to maximize shareholder value, including continued execution, strategic investments, joint ventures, or other transactions.
Fermi (Nasdaq: FRMI) co-founder Toby Neugebauer urged a formal sale process to maximize shareholder value and praised progress on Project Matador. Key disclosed milestones include >2 GW of assembled generation hardware, a 6 GW Clean Air Permit, NRC acceptance of a large-scale COL application, and >$1 billion in financing.
Mr. Neugebauer and related parties hold ~40% of shares and say they remain aligned with shareholders despite his recent removal as CEO; he offered to help run a sale led by an independent bank.
Fermi (NASDAQ:FRMI) announced a strategic evolution called Fermi 2.0 on April 20, 2026, including leadership changes, governance upgrades, and new offices in Dallas and Amarillo.
Key actions: Marius Haas named Chairman; co-founder Toby Neugebauer departed as CEO; an Office of the CEO with Co‑Presidents Jacobo Ortiz Blanes and Anna Bofa will run operations during a CEO search; Miles Everson resigned as CFO and was elected director; Jeffrey S. Stein joined the board; the company reaffirmed commitments to Project Matador and its Texas Tech partnership.
Fermi America (NASDAQ: FRMI) filed a Form 8-K on March 30, 2026, including its fiscal year 2025 shareholder letter and announced a live webcast and conference call the same day. The event is scheduled for 9:00 AM ET / 2:00 PM BST and will be replayed online.
Investors are directed to the company's investor relations site and social channels for disclosures and materials.
Fermi America (NASDAQ: FRMI) filed a 5 GW Clean Air Permit Application with the Texas Commission on Environmental Quality on March 27, 2026, following TCEQ’s approval of a first ~6 GW permit on February 25, 2025.
The company targets ~17 GW total capacity composed of ~11 GW clean natural gas, plus nuclear, solar and battery power, and says ~2.5 GW of gas-fired combined-cycle generation is secured and equipment finance is committed.
Fermi America (NASDAQ: FRMI) secured a $165 million senior secured, first‑lien delayed draw term loan from CSG Investments (affiliate of Beal Bank USA) to fund remaining progress payments for six Siemens Energy SGT‑800‑57 turbines, with deliveries scheduled in 2028. This adds to >$865 million in equipment financing for Project Matador and supports near‑term turbine procurement ahead of project financing.
Funds flow through Fermi Turbine Warehouse II LLC; legal counsel included Vinson & Elkins and Davis Polk.
Fermi America (NASDAQ:FRMI) plans to file an additional 5GW Clean Air Permit with the Texas Commission on Environmental Quality, weeks after receiving an approved 6GW permit for Project Matador. The company now projects a ~17GW private power campus combining natural gas, nuclear, solar and batteries.
The expansion targets 11GW of clean natural gas and aims to add construction and permanent jobs in the Texas Panhandle while positioning the site for hyperscaler demand.
Fermi America (NASDAQ: FRMI) showcased Project Matador at NRC RIC 2026, positioning it as the nation's most advanced nuclear build.
Key facts: the project's combined operating license application is the only large LWR COLA accepted by the NRC in more than 15 years; partners include Westinghouse, Hyundai E&C, and Doosan Enerbility; Project Matador targets 4.4 GW of AP1000 nuclear and an 11 GW behind-the-meter campus with a proposed groundbreak on July 4, 2026.
Fermi America (NASDAQ:FRMI) received final Texas Clean Air Permit for 6 GW of clean natural gas generation at its 11 GW Project Matador campus on Feb 25, 2026. The permit confirms compliance with state and federal emissions standards and clears the way for vertical construction and mobilization of secured generation assets.
The company says it has over 2 GW of long lead-time gas assets and six Siemens SGT-800 turbines ready for deployment to Amarillo as it advances tenant negotiations and final project financing.