Fermi Soars After Landing First Tenant for Giant Texas Data-Center Project -- WSJ
Dow Jones2026/08/11 14:15By Jennifer Hiller
Shares in Fermi rose 20% after it said it signed up AI cloud provider TensorWave to be the first customer at its Texas data-center site.
Fermi, a startup co-founded last year by Rick Perry, the former energy secretary and Texas governor, aims to build a huge AI campus on land owned by the Texas Tech University System.
Analysts at Stifel called the lease deal with a TensorWave subsidiary "a critical milestone for Fermi," saying it validates the value of the site and should lead to further transactions.
The company has had a dramatic few months after ousting its former chief executive and co-founder, Toby Neugebauer. Neugebauer last month withdrew his call for a shareholder meeting to thrash out the company's direction, citing an "untenable timeline" caused by the recusal of a judge.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
August 11, 2026 10:15 ET (14:15 GMT)
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