BUZZ-Fermi and AMD reached a support agreement and cooperation, stock price rebounds

October 13 - ** Shares of data center real estate investment trust (REIT) Fermi (FRMI.O) surged 20% on Tuesday to $3.90, rebounding from a record low set in the previous trading session. The rally followed the company signing a credit support agreement with Advanced Micro Devices (AMD.O) to back its “Matador Project” energy and artificial intelligence infrastructure development in Texas.

** Earlier on Tuesday, FRMI said (link) it is partnering with the chipmaker to provide a total generation capacity of 222 megawatts for the first phase of the project. FRMI stated, “This agreement is a key milestone in securing project financing.”

** The two parties also signed an agreement laying the framework for potentially expanding the total generation capacity to 650 megawatts in the future.

** On August 10, FRMI said it expects the 15-year first-phase lease agreement signed with AI cloud service provider TensorWave to generate about $6.5 billion (link) in total contract revenue initially.

** Despite these developments, FRMI’s share price is still down about 51% so far this year. The company went public through an IPO (link) in September 2025 at $21 per share.

** According to London Stock Exchange Group (LSEG) data, 8 out of 10 analysts rate the stock as a “strong buy” or “buy,” while 2 recommend “hold”; the median target price is $13.50, unchanged from a month ago but down from $17.50 on July 13.

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