32.5Mln Shares
The Fermi leadership plans to use proceeds from the offering mainly to support the continued growth and development of Fermi America’s business, to secure personnel, to increase financial flexibility, and for general corporate purposes. The group of book-runners managing the IPO is led by UBS Investment Bank, Evercore, Cantor, and Mizuho.
The Company
Fermi is a provider of renewable energy power generation services. It develops advanced electric grids for delivering highly redundant gigawatt-scale power required to create next-generation artificial intelligence systems. Co-founded by Rick Perry and Toby Neugebauer, Fermi is on a mission to build the world’s largest private grid.
Fermi’s integrated energy platform is specifically designed to deliver compute-optimized power systems purpose-built for hyperscale AI. Project Matador, Fermi’s flagship project, is planned to be an 11-gigawatt energy and data complex in Texas, designed to deliver power and data center capacity with a mix of nuclear, natural gas, and solar.
Key Metrics
The company has not generated revenue since its inception on January 10, 2025. As of June 30, 2025, the firm had a net loss of $6.37 million or $0.05 per unit. General and administrative expenses totaled $5.69 billion.