Fermi Targets $13.16B IPO As AI Spurs Data Center Demand

Benzinga

Fermi, a Texas REIT co-founded by Rick Perry, targets a $13B valuation in its U.S. IPO. The firm plans to fund its massive Project Matador, aiming to supply 11 GW of nuclear, gas, and solar power for AI-driven data centers.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Fermi is seeking a valuation of up to $13.16 billion in its U.S. IPO

00:07as demand for data centers surges with the AI boom.

00:10And according to Reuters, Texas-based REIT, co-founded by former U.S. Energy Secretary Rick Perry,

00:15plans to raise up to $550 million by selling 25 million shares, priced between $18 and $22.

00:22Fermi's flagship Project Matador site in Amarillo aims to provide 11 gigawatts of nuclear, gas,

00:27and solar power to data centers by 2038, with one gigawatt ready by late 2026.

00:33Founded in January 2025, Fermi plans to go public alongside other AI-focused firms

00:38and build the world's largest energy and data complex using nuclear, gas, and solar power.

00:43Fermi is still a development-stage company, with analysts noting its ambitious plans

00:47making investors' appetite uncertain despite AI's strong appeal.

00:50For all things money, visit Benzinga.com.

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