Fermi's AI Power Grid Plans Hit by Major Setback
Update: 2025-12-12
Description
Fermi Incorporateds shares plummeted by up to 51% in pre-market trading following a key tenants cancellation of a $150 million agreement for their AI-focused private power grid project in West Texas. Despite this setback, Fermi, co-founded by former Texas governor and US Energy Secretary Rick Perry, remains optimistic, with ongoing discussions for new electricity customers and a planned power delivery start in 2026.
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