Fermi Inc. shares climbed over 3% on August 20, 2026. Project Matador will proceed despite Governor Abbott's temporary suspension on new Texas data center development. CEO Lee McIntire confirmed the project’s private grid design bypasses public regulatory actions.
The campus integrates natural gas, nuclear, solar, and battery storage for AI and advanced computing workloads. Project Matador operates as a private, behind-the-meter power grid for hyperscale infrastructure.
TensorWave signed a 15-year lease as the project's anchor tenant. This agreement carries a total value of $6.5 billion. The partnership validates Fermi’s business model as energy demand for AI infrastructure surges.