Facts that name Fermi, newest first.
Texas Tech University System may terminate the lease if the notice to proceed is not received. Vertical construction at Project Matador is expected to begin after a definitive tenant lease closes and the notice to proceed is received.
FermiTexas Tech University System Source: Fermi Inc. 10-Q, filed Nov 12, 2026
As of September 30, 2026, cash and cash equivalents were $286,327 and restricted cash $29,190, which the filing says are insufficient for obligations due within one year, raising going concern doubt. The company has undrawn committed borrowing capacity under existing equipment financing facilities.
The site covers approximately 5,236 acres under lease with the Texas Tech University System and is expected to reach approximately 8,400 acres in aggregate. Generation is expandable up to approximately 17 GW, and approximately 15 million square feet of AI infrastructure space is planned for hyperscale customers.
FermiTexas Tech University System Source: Fermi Inc. 10-Q, filed Nov 12, 2026