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Fermi Inc. — Third Quarter 2026 Earnings Summary

Fermi Inc. announced a new agreement with an investment-grade hyperscaler to advance 600 megawatts of power capacity at Project Matador, involving a $200 million prepayment and a $15 million early construction commitment. The company reported a net loss of $141.6 million for the third quarter of 2026, driven primarily by $142.2 million in general and administrative expenses, while maintaining $315.5 million in total cash and restricted cash. Additionally, Fermi terminated its data center lease with TensorWave and confirmed an ongoing partnership with the Texas Tech University System to support Project Matador development.

Company
FERMI INC
Sector
Real Estate
Industry
REIT - Specialty