Fermi initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Derek Soderberg initiated coverage of Fermi (FRMI) with an Overweight rating and $27 price target Fermi is developing a 5,200-acre AI data center campus in Amarillo, TX, projected to be the largest in the U.S., with plans to deliver 11GW of power and 15 million square feet of data centers by 2038, the analyst tells investors in a research note. Backed by Rick Perry and co-founder Toby Neugebauer, the project’s early power capacity gains and behind-the-meter model position it strongly amid surging AI energy demand and grid constraints, Cantor says.