On August 11, Fermi Inc. rose 22.11% in pre-market trading, trading at $7.15/share, with turnover of $186,700.

On the news front, Fermi Inc. announced it has signed its first binding customer lease agreement at its Project Matador campus in Texas with TensorWave TEX1, a subsidiary of TensorWave. The agreement covers a facility supported by 222 megawatts of total power once the final delivery phase begins, with an initial term of 15 years expected to generate approximately $6.5 billion in revenue for the first phase. The deal also includes expansion rights for two additional data centers that would bring the partnership to more than 650 MW if exercised.

Project Matador's first power delivery is targeted for this year, with construction already underway and permits secured for approximately 6 GW of the planned 17-GW campus. Additionally, the company is scheduled to release its latest quarterly earnings on August 13 before market open, with consensus estimates projecting revenue of $184 million, representing a 46.26% year-over-year increase.

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