Fermi is trading 16.33% up at $6.84 after announcing its first binding customer lease with AI cloud provider TensorWave.
- The 15-year agreement covers 222 megawatts at Project Matador and represents approximately $6.5 billion in contracted revenue, with expansion rights exceeding 650 megawatts.
- Lease delivery begins in the second half of 2027 and is expected to support large-scale AMD AI workloads, providing significant long-term revenue visibility.
- Broader markets were mixed, making the company-specific contract the primary catalyst.