{"data":{"ticker":"FRMI","slug":"fermi-inc","name":"Fermi Inc","exchange":"NASDAQ","sector":"Real Estate","headquarters":"Amarillo, Texas","ceo":"Lee Alan McIntire","employees":35,"website":"https://www.fermiamerica.com","founded":"2024","layers":[{"slug":"neoclouds","name":"Neoclouds"},{"slug":"power-energy","name":"Power & Energy"}],"exposure":{"score":92,"tier":"Pure Play","rationale":"Fermi is developing the multi-gigawatt Project Matador campus in Texas, combining gas, solar, and nuclear generation with data center capacity for AI tenants. It is essentially a pre-revenue bet that powered land and campuses for AI will command premium value."},"quote":{"price":1.57,"change24hPct":2.61,"change7dPct":-39.85,"change30dPct":-57.1,"change1yPct":-93.55,"high52w":25.31,"low52w":1.53,"marketCap":1006777792,"peRatio":null,"eps":-1.27,"volume24h":45041952},"nextEarningsDate":"2026-11-12","summary":"Fermi is an energy-plus-data-center developer. Its plan is to build Project Matador, a multi-gigawatt campus in Texas that combines gas, solar, and nuclear power generation with data center capacity, then lease that powered capacity to AI tenants.","explainer":["Fermi is an energy-plus-data-center developer. Its plan is to build Project Matador, a multi-gigawatt campus in Texas that combines gas, solar, and nuclear power generation with data center capacity, then lease that powered capacity to AI tenants.","The company's offering is powered land for AI: sites where generation and data center infrastructure are developed together, sidestepping the grid connection queues that slow conventional data center projects. Per Supercycle's assessment, it is essentially a bet that powered campuses for AI will command premium value.","Founded in 2024 and headquartered in Amarillo, Texas, Fermi trades on the NASDAQ and employs roughly 35 people."],"buildoutRole":"Fermi sits in the Neoclouds and Power & Energy layers of the buildout, at the point where they meet. Project Matador pairs gas, solar, and nuclear generation with data center capacity for AI tenants, addressing the power constraint that increasingly gates AI expansion. The company is essentially a concentrated bet that powered land and campuses for AI will command premium value, which earns it an AI Exposure Score of 92 out of 100 on Supercycle.","faq":[{"q":"What does Fermi do?","a":"Fermi is developing Project Matador, a multi-gigawatt campus in Texas combining gas, solar, and nuclear power with data center capacity, which it plans to lease to AI tenants."},{"q":"How is Fermi exposed to AI?","a":"Almost entirely. Its entire development plan exists to serve AI compute demand with powered campuses. Supercycle rates it an AI Exposure Score of 92 out of 100, among the highest it assigns."},{"q":"What is Project Matador?","a":"Project Matador is Fermi's planned multi-gigawatt campus in Texas. It combines gas, solar, and nuclear generation with data center capacity so AI tenants get power and space developed together."},{"q":"Is FRMI a pure play AI stock?","a":"Effectively yes by exposure. Its business is a bet that powered land and campuses for AI will command premium value, reflected in its AI Exposure Score of 92 out of 100."},{"q":"Where is Fermi based and who leads it?","a":"Fermi is headquartered in Amarillo, Texas, and is led by CEO Toby Neugebauer. Founded in 2024, it employs roughly 35 people and trades on the NASDAQ."}],"history1y":[{"date":"2026-09-28","close":4.26},{"date":"2026-09-29","close":4.28},{"date":"2026-09-30","close":4.21},{"date":"2026-10-01","close":4.05},{"date":"2026-10-02","close":4.03},{"date":"2026-10-05","close":4.06},{"date":"2026-10-06","close":4.23},{"date":"2026-10-07","close":3.97},{"date":"2026-10-08","close":3.66},{"date":"2026-10-09","close":3.43},{"date":"2026-10-12","close":3.25},{"date":"2026-10-13","close":3.72},{"date":"2026-10-14","close":3.16},{"date":"2026-10-15","close":3.39},{"date":"2026-10-16","close":3.16},{"date":"2026-10-19","close":3.02},{"date":"2026-10-20","close":2.94},{"date":"2026-10-21","close":2.86},{"date":"2026-10-22","close":2.65},{"date":"2026-10-23","close":2.55},{"date":"2026-10-26","close":2.54},{"date":"2026-10-27","close":2.62},{"date":"2026-10-28","close":3.02},{"date":"2026-10-29","close":2.86},{"date":"2026-10-30","close":2.61},{"date":"2026-11-02","close":2.2},{"date":"2026-11-03","close":2.04},{"date":"2026-11-04","close":1.82},{"date":"2026-11-05","close":1.53},{"date":"2026-11-06","close":1.57}],"incomeStatements":[{"ticker":"FRMI","report_period":"2025-12-31","fiscal_period":"2025-FY","period":"annual","currency":"USD","revenue":0,"cost_of_revenue":0,"gross_profit":0,"operating_expense":0,"operating_income":-177779000,"net_income":-486379000,"earnings_per_share":-1.13,"earnings_per_share_diluted":-1.13,"research_and_development":0,"selling_general_and_administrative_expenses":177779000,"interest_expense":0,"income_tax_expense":0,"weighted_average_shares_diluted":0}],"balanceSheets":[{"ticker":"FRMI","report_period":"2025-12-31","fiscal_period":"2025-FY","period":"annual","currency":"USD","total_assets":1413314000,"current_assets":408529000,"cash_and_equivalents":408529000,"total_liabilities":317442000,"current_liabilities":176572000,"total_debt":131119000,"shareholders_equity":1095872000,"retained_earnings":-133199000}],"holders13f":[],"news":[{"title":"Fermi Provides Letter to Shareholders from CEO Lee McIntire on Financing Fermi's Next Chapter","source":null,"url":"https://finance.yahoo.com/real-estate/articles/fermi-provides-letter-shareholders-ceo-123000118.html?.tsrc=rss","date":"2026-10-21"},{"title":"AMD backs Fermi’s first Project Matador lease with credit support, sending shares up 11%","source":null,"url":"https://blockspace.media/insight/amd-backs-fermi-project-matador-lease/?.tsrc=rss","date":"2026-10-13"},{"title":"Fermi's Co-Founder and Largest Shareholder, Toby Neugebauer: \"Fermi's Shareholders, the Markets and Texas Voters Have Rejected Rick Perry and Fermi's 'We Can Do Whatever We Want' Board\"","source":null,"url":"https://finance.yahoo.com/markets/stocks/articles/fermis-co-founder-largest-shareholder-044200538.html?.tsrc=rss","date":"2026-11-06"},{"title":"What Does Fermi (FRMI) Lease Update Mean For Its Cash Flow Story?","source":null,"url":"https://finance.yahoo.com/markets/stocks/articles/does-fermi-frmi-lease-mean-151051363.html?.tsrc=rss","date":"2026-11-04"},{"title":"The Election Threat to the AI Data Center Boom—and 7 Stocks That Are at Risk","source":null,"url":"https://finance.yahoo.com/m/7b3d022b-904f-3759-9453-1bb184504784/the-election-threat-to-the-ai.html?.tsrc=rss","date":"2026-11-03"},{"title":"Fermi Provides Update on Lease Agreement as Parties Work Toward Closing","source":null,"url":"https://finance.yahoo.com/markets/stocks/articles/fermi-provides-lease-agreement-parties-120000098.html?.tsrc=rss","date":"2026-11-03"},{"title":"Fermi Advances Project Matador, Pivots to Powered-Land Strategy as Director Vote Fails","source":null,"url":"https://www.marketbeat.com/instant-alerts/event-fermi-advances-project-matador-pivots-to-powered-land-strategy-as-director-vote-fails-2026-11-02/?utm_source=yahoofinance&utm_medium=yahoofinance&.tsrc=rss","date":"2026-11-02"},{"title":"3 AI Data Centre Stocks Investors Are Watching Beyond The Nscale Compute Campus","source":null,"url":"https://finance.yahoo.com/technology/ai/articles/3-ai-data-centre-stocks-081801138.html?.tsrc=rss","date":"2026-10-30"}]},"meta":{"version":"v1","asOf":"2026-11-06","builtAt":"2026-11-08T15:24:45.778Z","tier":"free","source":"https://supercyclehq.com/stock/fermi-inc","disclaimer":"Informational only, not investment advice. The AI Exposure Score is Supercycle's editorial opinion. Agent portfolios are simulated paper portfolios run by AI.","license":"Free to use and quote with attribution to supercyclehq.com. Do not redistribute as a dataset."},"links":{"self":"https://supercyclehq.com/api/v1/stocks/FRMI","html":"https://supercyclehq.com/stock/fermi-inc","md":"https://supercyclehq.com/stock/fermi-inc.md","docs":"https://supercyclehq.com/api/v1/openapi.json"}}