OpenAI Rumored to Lease Capacity at Fermi’s Project Matador AI Campus
Fermi Inc. shares surged over 26% after JMP Citizens reported that OpenAI is likely among parties evaluating capacity at Fermi’s Project Matador AI power campus in Amarillo, Texas. The project aims to deliver 1.1 GW by end of 2026 and up to 17 GW by 2030–2038. Despite no firm agreement, the speculation drove a multi-day rally. Fermi faces leadership turmoil, a widened Q1 net loss, and a board power struggle with former CEO Toby Neugebauer.
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Fermi (FRMI) Climbs 9.9% Further on Lingering OpenAI Buzz
Fermi Inc. (NASDAQ:FRMI) shares rose 9.9% on June 17, 2026, marking a sixth consecutive session of gains, driven by ongoing speculation that OpenAI may lease capacity at Fermi's Project Matador campus. JMP Citizens reported last week that OpenAI could be nearing an agreement with Fermi. The company is on track to deliver approximately 1.1 gigawatts of new power at its Amarillo campus by year-end, with the full 17 GW project targeted for 2030. Separately, Fermi disclosed it mailed a consent revocation statement to shareholders in response to former CEO Toby Neugebauer's solicitation to call a special shareholders meeting, urging shareholders to reject his attempt to install his own board nominees. The article also promotes a report on undervalued AI stocks.
Yahoo FinanceFermi Stock Rallies on Analyst Rumor of OpenAI Interest in Data Center Campus
Shares of Fermi (NASDAQ: FRMI) rallied up to 16.5% on June 17, 2026, following a rumor from JMP Securities that OpenAI is assessing Fermi's massive AI data center project, Matador, in West Texas. The project aims to deliver 1.5 gigawatts by 2027 and up to 17 GW by 2038, with behind-the-meter power. However, no firm agreement exists, and the company faces significant risks: no signed customers, a leadership shakeup after the CEO and CFO resigned in April, and an ongoing board power struggle involving former CEO Toby Neugebauer. The article concludes the stock remains highly speculative for long-term investors.
Yahoo FinanceFermi (FRMI) Jumps 5.3% Further on OpenAI Buzz
Fermi Inc. (NASDAQ:FRMI) shares rose 5.35% to $7.88 on Tuesday, extending gains for a fifth consecutive session amid ongoing speculation that OpenAI is nearing an agreement to lease capacity at Fermi's Project Matador campus. JMP Citizens reported last week that OpenAI could be among companies assessing the facility. Fermi is on track to deliver about 1.1 gigawatts of new power at its Amarillo campus by year-end, with the full 17-gigawatt Project Matador targeted for 2030. The company also hinted at a leasing agreement with a new tenant within three months. Separately, Fermi disclosed it mailed a consent revocation statement to shareholders in response to former CEO Toby Neugebauer's solicitation to call a special shareholders meeting, which the company opposes as advancing his personal agenda.
Yahoo FinanceFermi (FRMI) Surges 22.6% After Securing Backing from This AI Giant
Fermi Inc. (NASDAQ:FRMI) shares surged 22.6% on Wednesday, breaking a three-day losing streak, after reports that OpenAI is planning to sign a deal from its Project Matador campus. JMP Citizens reportedly stated that OpenAI is among companies assessing Fermi's capacity at Project Matador, with the two firms nearing an agreement. Fermi earlier announced it is on track to deliver approximately 1.1 gigawatts of new power at its Amarillo campus by year-end, with the entire project designed to deliver 17 GW by 2030. The company also hinted at securing a leasing agreement with a new tenant within three months and is working to hire a new CEO following the ouster of Toby Neugebauer. However, Fermi's net loss widened significantly in Q1 to $188.69 million from $78 million a year ago, driven by higher operating losses. Chairman Marius Haas described the company as being at a meaningful inflection point.
Yahoo FinanceFermi Shares Surge on Report OpenAI May Eye Major Capacity Deal
Shares of Fermi Inc surged over 26% on Tuesday following a report from analyst firm JMP Citizens indicating that OpenAI is likely among several counterparties evaluating capacity at Fermi's Project Matador AI power campus in Amarillo, Texas. JMP Citizens flagged the potential for a significant commercial agreement. Fermi, a specialized energy and hyperscaler company supplying low-carbon power to AI and compute-intensive industries, is on track to deliver approximately 1.1 gigawatts of new power by end of 2026, with plans to scale to 17 GW by 2038. The stock had declined over 15% in late May and early June due to heavy infrastructure investment and leadership changes. Fermi recently secured about $785 million in new equipment financing, including a $500 million facility from MUFG, and held roughly $243 million in cash as of Q1 2026.
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