on Fermi Inc. (NASDAQ:FRMI)
Fermi Inc. and TensorWave Extend Lease Closing Date
Fermi Inc. (NASDAQ:FRMI) announced an extension for the closing date of its Data Center Lease with TensorWave TEX1, LLC. The new closing date is set for October 31, 2026. This lease covers a total of 222 megawatts at Fermi's Project Matador campus, with an anticipated revenue of $6.5 billion over 15 years.
The Lease, signed in August 2026, requires completion of certain conditions, including a guaranty of lease obligations and securing project-level financing. The extension allows parties to finalize these and reflects their commitment to the agreement.
Project Matador is a significant venture aimed at providing reliable power for AI infrastructure, with Fermi investing over $1.5 billion to date. The project aims to ramp up to 17 GW, matching capital deployment with commercial commitments.
R. E.
Copyright © 2026 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Fermi Inc. news