On June 25, Fermi Inc. rose 6.12% in after-hours trading, trading at $8.84/share, with turnover of $653,300.

On the news front, the company's proxy battle between the board and former CEO Toby Neugebauer continues to intensify. The board recently sent a letter to shareholders urging them to revoke consent for Neugebauer's solicitation to call a special meeting, requesting shareholders return white revocation cards while refusing to sign green agent designation cards sent by Neugebauer and affiliated parties. The board stated that Neugebauer was attempting to claim credit for the company's recent momentum and warned his actions could disrupt company progress. Neugebauer had previously filed definitive proxy materials with the SEC seeking to call a special shareholder meeting and gain board control. The escalating confrontation between both sides has driven heightened volatility and speculative trading activity.

Fermi Inc. is an advanced energy and hyperscale data center development company focused on AI infrastructure needs. Its core Matador project aims to integrate natural gas, nuclear, and solar energy to deliver off-grid computing capacity.

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