🔴 Fermi is trading 4.02% down today as investors focus on continued zero revenue

Fermi is trading 4.02% down at $6.33 as investors focus on its continued zero-revenue profile despite a $6.5 billion TensorWave lease.

• Reported a second-quarter net loss of $25.8 million, while coverage highlighted debt and cash-burn concerns.
• Announced a $431 million convertible-notes offering and projected commercial power delivery beginning in late 2027, keeping execution timing and dilution risk in focus.
• The broader market is modestly lower, but the earnings reaction appears to be the primary catalyst.