Fermi Secures Major Lease for Project Matador
Fermi (NASDAQ: FRMI) announced a significant milestone on Tuesday by signing a 15-year lease with TensorWave for its Project Matador campus in Texas, valued at approximately $6.5 billion. This deal includes rights for expansion to over 650 megawatts (MW) of power to support the facility.
The construction of the data center is backed by over $1.5 billion in investments and has 6 gigawatts (GW) of capacity already permitted. The phased delivery of high-performance graphics processing units (GPUs) from Advanced Micro Devices is set to commence in the second half of 2027, addressing the pressing demand for reliable power in the AI sector.
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