Fermi is trading 20.07% up at $7.06 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.
- Delivery is scheduled to begin in the second half of 2027, subject to customary guarantees and financing conditions.
- The company-specific contract clearly explains the pre-market surge; broader markets were mixed and unlikely to be the primary driver.