Fermi signs AMD credit support agreement for 222 MW Texas AI infrastructure lease
Fermi Inc. announced a credit support agreement with Advanced Micro Devices (AMD) that backs a 222 MW lease for the first phase of its Project Matador AI infrastructure site in Carson County, Texas. The deal also establishes a framework for expanding the project to up to 650 MW of additional capacity. Fermi has already invested more than $1.5 billion in the project, which is planned to scale to about 17 GW over time.
Why it matters
The agreement provides a financing milestone that could help Fermi secure further funding for Project Matador, a key driver of future revenue. Texas Capital Securities reiterated a $20 price target for Fermi after the deal. The news sent Fermi shares up about 13% in pre‑market trading.
Key facts
- 1Fermi signed a credit support agreement with AMD covering a 222 MW lease for Project Matador. tradingview.com
- 2The agreement includes a framework for potential expansion to up to 650 MW of gross power capacity. tradingview.com
- 3Fermi has invested more than $1.5 billion in Project Matador to date. tradingview.com
- 4Project Matador is intended to reach approximately 17 GW of capacity over time. tradingview.com
- 5Fermi announced a 15‑year lease with TensorWave for 222 MW that would generate $6.5 billion in revenue. tradingview.com
- 6Fermi shares rose about 13.2% in pre‑market trading after the announcement. finance.yahoo.com
Summary written by AlphAI AI Desk from 18 of 18 sources. Not investment advice. Figures are as stated by the linked sources.