🔴 Fermi is trading 11.05% down today after Q2’s $25.8 million net loss

Fermi is trading 11.05% down at $6.76 after August 13, 2026, Q2 results showed a $25.8 million net loss, and the company remained pre-revenue.

• The $6.5 billion TensorWave lease and $0.04 loss-per-share beat were positive, but investors may be focusing on liquidity and financing risks.
• Cash and restricted cash fell to $91.7 million, while debt reached $520.1 million after convertible-note issuance.