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Fermi Inc.

corporate_fare Company Profile

Fermi Inc.

FRMI·NASDAQ·Real Estate & Construction·CIK 0002071778

Fermi Inc. develops and leases large-scale, grid-independent energy generation and high-performance computing facilities for AI-centric customers. The company's mission is to deliver up to 11 GW of low-carbon, highly reliable and redundant, and on-demand power directly to compute-intensive businesses. There is potential to expand the campus to up to approximately 17 GW of total generation capacity, subject to additional land acquisitions and incremental permits. Fermi has a long-term lease on a site large enough to simultaneously house the next three largest AI infrastructure campuses by square footage currently in existence. The company's strategy is anchored by Project Matador, a hyperscale power and AI infrastructure campus located in the Texas Panhandle region. This project is secured by a 99-year ground lease with the Texas Tech University System. Project Matador is designed as a multi-phased development intended to deliver up to 11 GW, with the potential to expand to up to approximately 17 GW, of private power generation capacity. It is also designed to support up to approximately 15 million square feet of AI-ready hyperscale compute infrastructure over a multi-decade buildout timeline. The objective is to provide hyperscale and other compute-intensive tenants with reliable, cost-effective, low-latency power and dedicated powered shell infrastructure, insulated from the constraints of grid-based power supplies.

Fermi Inc. (NASDAQ:FRMI) is a publicly traded company in the Real Estate & Construction sector. Wiseek has independently scored 107 items for FRMI at importance 7 or higher on its 1–10 market-impact scale. Its most recent item scored 7 or higher is dated 2026-10-16, rated 8/10. Across its 20 most recent items scored 7 or higher, the top rating is 9/10, with 16 rated 8 or above. Recent SEC coverage for FRMI spans 8-K, 144, DEF 14A, PX14A6G.

Recent high-impact activity:

  • Fermi Wins MUFG Covenant Waiver, Defers ~$56M of Principal for $25M in Fees
  • Largest Shareholder Toby Neugebauer Files to Sell $4.1M of Fermi Stock
  • Fermi Quantifies $6.5B TensorWave Lease: 75-80% NOI Margin, AMD Credit Support
  • Fermi Signs Credit Support Agreement with AMD for 222 MW Project Matador Phase
  • Fermi Sets First Annual Meeting for Oct 30 Amid Proxy Fight and Litigation with Former CEO

Financial Snapshot

Fiscal year ended December 31, 2025
Net Income
-$486.38M
Diluted EPS
-$1.13
Cash & Equivalents
$408.53M
Total Debt
$109.8M
Debt / Equity
0.10×
Shares Outstanding
629.84M sh
Source: 10-K · filed 2026-04-30 · accession 0002071778-26-000018

Short Interest & Short Volume

2.67 days to cover

FINRA reported short interest of 63,402,170 shares in FRMI as of the October 15, 2026 settlement, a 5.1% decrease from the prior period — about 2.7 days to cover at its recent average daily volume. On October 30, 2026, 34.6% of FRMI volume reported to FINRA trade-reporting facilities was marked short.

Short interest (bi-monthly positions)63,402,170 shares as of October 15, 2026
Change vs prior period▼ 5.1%
Days to cover2.67 at avg daily volume of 23,752,927
Daily short volume (FINRA facilities)34.6% of 8,038,141 shares on October 30, 2026
5-day average short volume36.5%

Daily short sale volume covers trades reported to FINRA trade-reporting facilities and is not the same as short interest (bi-monthly reported positions). Source: FINRA — FINRA is the owner and source of this short interest and short sale volume data; it may not be redistributed.

Dilution Risk

Low risk

Filing-implied dilution signals for FRMI, detected from its recent SEC filings · based on capital-structure filings through 2026-07-15.

Convertible Notes Offering Closed · Capped Call Transactions Limit Dilution

A filing-implied signal, not a realized share count. How Wiseek tracks dilution →

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$2.61
52-week range · as of 2026-10-16 $2.61 – $31.47
Market cap
$1.67B
Volume
15.8M (0.8× avg)
3-mo avg 20.2M
Live data · 2026-11-02 03:58 UTC · Market closed

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feed FRMI - Latest Insights

FRMI
Oct 16, 2026, 6:06 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $3.39
Real-time Price: $2.61 info
Change: -$0.780 (-23%) info
Market Cap: $1.674B info
FRMI
Oct 14, 2026, 5:11 PM EDT
Filing Type: 144
Importance Score:
7
Price at Filing: $3.17
Real-time Price: $2.61 info
Change: -$0.560 (-18%) info
Market Cap: $1.674B info
FRMI
Oct 14, 2026, 8:00 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $3.69
Real-time Price: $2.61 info
Change: -$1.08 (-29%) info
Market Cap: $1.674B info
FRMI
Oct 13, 2026, 8:00 AM EDT
Source: ACCESS Newswire
Importance Score:
8
Updated Oct 13, 9:28 AM ET — Fermi shares rose 12% to $3.65 in premarket trading after the agreement.
Price at Filing: $4.03
Real-time Price: $2.61 info
Change: -$1.42 (-35%) info
Market Cap: $1.674B info
FRMI
Oct 02, 2026, 4:08 PM EDT
Filing Type: DEF 14A
Importance Score:
7
Price at Filing: $4.04
Real-time Price: $2.61 info
Change: -$1.43 (-35%) info
Market Cap: $1.674B info
FRMI
Sep 21, 2026, 9:03 AM EDT
Source: PR Newswire
Importance Score:
8
Price at Filing: $5.11
Real-time Price: $2.61 info
Change: -$2.50 (-49%) info
Market Cap: $1.674B info
FRMI
Sep 17, 2026, 4:05 PM EDT
Source: PR Newswire
Importance Score:
7
Price at Filing: $4.94
Real-time Price: $2.61 info
Change: -$2.33 (-47%) info
Market Cap: $1.674B info
FRMI
Sep 11, 2026, 4:03 PM EDT
Filing Type: PX14A6G
Importance Score:
8
Price at Filing: $5.50
Real-time Price: $2.61 info
Change: -$2.89 (-53%) info
Market Cap: $1.674B info
FRMI
Sep 11, 2026, 8:56 AM EDT
Source: PR Newswire
Importance Score:
8
Price at Filing: $5.41
Real-time Price: $2.61 info
Change: -$2.80 (-52%) info
Market Cap: $1.674B info
FRMI
Aug 14, 2026, 4:41 PM EDT
Filing Type: 10-Q
Importance Score:
9
Price at Filing: $6.46
Real-time Price: $2.61 info
Change: -$3.85 (-60%) info
Market Cap: $1.674B info
FRMI
Aug 13, 2026, 7:19 PM EDT
Filing Type: 8-K
Importance Score:
7
Price at Filing: $6.72
Real-time Price: $2.61 info
Change: -$4.11 (-61%) info
Market Cap: $1.674B info
FRMI
Aug 13, 2026, 7:10 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $7.87
Real-time Price: $2.61 info
Change: -$5.26 (-67%) info
Market Cap: $1.674B info
FRMI
Jul 23, 2026, 4:34 PM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $6.32
Real-time Price: $2.61 info
Change: -$3.71 (-59%) info
Market Cap: $1.674B info
FRMI
Jul 21, 2026, 4:01 PM EDT
Filing Type: 8-K/A
Importance Score:
8
Price at Filing: $6.65
Real-time Price: $2.61 info
Change: -$4.04 (-61%) info
Market Cap: $1.674B info
FRMI
Jul 15, 2026, 4:54 PM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $6.25
Real-time Price: $2.61 info
Change: -$3.64 (-58%) info
Market Cap: $1.674B info
FRMI
Jul 13, 2026, 1:16 PM EDT
Source: Dow Jones Newswires
Importance Score:
8
Price at Filing: $6.26
Real-time Price: $2.61 info
Change: -$3.65 (-58%) info
Market Cap: $1.674B info
FRMI
Jul 13, 2026, 9:23 AM EDT
Source: Wiseek News
Importance Score:
8
Price at Filing: $6.53
Real-time Price: $2.61 info
Change: -$3.92 (-60%) info
Market Cap: $1.674B info
FRMI
Jul 13, 2026, 9:15 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $6.56
Real-time Price: $2.61 info
Change: -$3.95 (-60%) info
Market Cap: $1.674B info
FRMI
Jul 10, 2026, 2:42 AM EDT
Source: Reuters
Importance Score:
8
Price at Filing: $6.18
Real-time Price: $2.61 info
Change: -$3.57 (-58%) info
Market Cap: $1.674B info
FRMI
Jul 09, 2026, 5:13 PM EDT
Source: Wiseek News
Importance Score:
8
Price at Filing: $6.42
Real-time Price: $2.61 info
Change: -$3.81 (-59%) info
Market Cap: $1.674B info
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