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Fermi

Priced, Nasdaq: FRMI

Texas REIT developing power and data center infrastructure for AI uses.

Industry: Real Estate

Latest Trade: $5.12 0.00 (0.0%)

First Day Return: +54.9%

Return from IPO: -75.6%

Fermi’s mission is to power the artificial intelligence (“AI”) needs of tomorrow. We are an advanced energy and hyperscaler development company purpose-built for the AI era. Our mission is to deliver up to 11 gigawatts (“GW”) of low-carbon, HyperRedundant™, and on-demand power directly to the world’s most compute-intensive businesses with 1 GW of power projected to be online by the end of 2026. We have entered into a long-term lease on a site large enough to simultaneously house the next four largest data center campuses by square footage currently in existence. In a world in which power is considered a key currency for AI innovation, we believe that Fermi has a unique combination of important advantages that will help propel America’s AI economy forward. Fermi offers investors an opportunity to invest in AI growth and grid-independent energy infrastructure through a tax-efficient public REIT structure. At the heart of our vision is the Advanced Energy and Intelligence Campus at Texas Tech University (“Project Matador”), which is a multi-gigawatt energy and data center development campus designed to support the accelerating needs of to-be-built AI infrastructure.
IPO Data
IPO Date 09/30/2025
Offer Price $21.00
Price Range $18.00 - $22.00
Offer Shares (mm) 32.5
Deal Size ($mm) $683
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Underwriter Name UBS Investment Bank
Underwriter Name Evercore ISI
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Company Data
Headquarters Amarillo, TX, United States
Founded 2025
Employees at IPO 7
Website www.fermiamerica.com

Fermi (FRMI) Performance