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Fermi Inc. ( (FRMI) ) has provided an announcement.
On February 10, 2026, Fermi America closed a $500 million senior secured, non-recourse equipment loan facility with MUFG Bank to support Project Matador, its AI-focused data center and private grid campus in Amarillo, Texas. The financing, structured as an equipment “warehouse” facility, allows borrowings for nine months from closing at Term SOFR or Daily Simple SOFR plus 4%, with an 18‑month maturity and collateral secured by turbine equipment and related assets.
Proceeds are being used to acquire three Siemens Energy F‑class (SGT6‑5000F) gas turbines, refinance an existing term loan, fund reserves, and support turbine delivery and deployment across Fermi’s fleet, solidifying more than 2 GW of controlled generation capacity. The transaction advances the first 2.3 GW of Fermi’s planned 11 GW private energy campus, enhances near-term execution certainty, and creates a repeatable structure for future gigawatt-scale equipment purchases, strengthening the company’s positioning for subsequent project-level financings and its role in powering hyperscale AI infrastructure.
The most recent analyst rating on (FRMI) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Fermi Inc. stock, see the FRMI Stock Forecast page.
More about Fermi Inc.
Fermi Inc., operating as Fermi America, develops next-generation private electric grids that provide highly redundant, gigawatt-scale power to support AI and advanced computing workloads. The company is building an 11 GW behind-the-meter private energy campus, Project Matador in Amarillo, Texas, integrating combined-cycle natural gas, new nuclear, grid power, solar, and battery storage to serve hyperscale data centers.
Co‑founded by former U.S. Energy Secretary Rick Perry and energy investor Toby Neugebauer, Fermi America targets long-duration, reliable power delivery for next-generation intelligence and AI compute. Its leadership team brings experience across 25 GW of power projects, positioning the company as an emerging large-scale private-grid provider in the U.S. energy and digital infrastructure markets.
Average Trading Volume: 6,742,592
Current Market Cap: $4.91B
See more insights into FRMI stock on TipRanks’ Stock Analysis page.