Fermi (FRMI) is Regaining Its Power Thanks to This Tech Giant Angelica Ballesteros Sat, November 14, 2026 at 12:01 AM EST 2 min read AMZN -1.16% FRMI +24.27% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Fermi Inc. (NASDAQ:FRMI) is one of the 10 Stocks Defying Tech Market Turmoil.
Fermi extended its winning streak to a third consecutive day on Friday, soaring 26.7 percent to close at $2.61 apiece, as investor sentiment was bolstered by reports that it revived talks with Amazon for an earlier botched power capacity supply.
A report by the Financial Times, citing people privy to the matter, said that Fermi Inc. (NASDAQ:FRMI) went back to negotiations with Amazon for a potential power supply deal, after their initial talks collapsed last December.
Amazon is expected to build its own data centers at Fermi's Project Matador campus in Amarillo, Texas.
On Thursday, Fermi Inc. (NASDAQ:FRMI) announced that it inked multiple agreements with an investment-grade hyperscaler, which it refused to identify, to advance 600 megawatts of power capacity at the Project Matador.
The company, it said, committed more than $200 million up front to accelerate construction, another $15 million for early construction and site development, with an additional $90 million being contemplated for structural steel and building materials acquisition.
"We believe this is just the start of converting our strong pipeline of customers. If we successfully turn this pipeline of prospective customers into leases, it would completely fill our 2.2 gigawatts of current capacity. This gives us growing confidence in our path forward and puts us in a strong position to evolve from pre-revenue, pre-lease to the next phase of growth," Fermi Inc. (NASDAQ:FRMI) said.
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