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10/20/2025

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10/20/2025
LAWIN.news

 Fermi Corp. IPO: A $715 Million leap in Texas AI and energy innovation

by Mae De Vera, LAWIN.news September 30, 2025
written by Mae De Vera, LAWIN.news September 30, 2025
Former Texas Governor Rick Perry is among the investors in Fermi, a Texas REIT developing power and data center infrastructure for AI uses. The company announced terms for its IPO on Wednesday. (Photo by Matthew Eisman/Getty Images)
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Fermi Corp., a ground breaking nuclear-powered AI startup co-founded by former Texas Governor Rick Perry, is poised to make waves with its impending IPO. The Amarillo-based company plans to list on the Nasdaq with a valuation potentially exceeding $8 billion, aiming to raise $715 million through the sale of 32.5 million shares priced between $18 and $22 each, as reported by Reuters.

With ambitious plans, Fermi intends to construct a vast 15 million-square-foot power plant and data center at Texas Tech University. This initiative, known as “Project Matador: The President Donald J. Trump Advanced Energy and Intelligence Campus,” seeks to establish a 1 million-square-foot data center powered by 1 gigawatt (GW) of energy by 2026, leveraging solar, gas, and next-gen nuclear energy to expand nearly to 11 GW by 2038.

Although revenue generation is yet to commence, Fermi has secured a long-term lease for its Texas Tech site. According to Newsweek, Rick Perry holds over 16 million shares, equating to about 3% of the company, while his son, Griffin Perry, possesses nearly 23%, valued at over $700 million at IPO prices.

The company’s branding resonates with Trump supporters and energy conservatives, prioritizing U.S. energy independence and data sovereignty. This approach aligns with Perry’s longstanding advocacy for nuclear energy, aiming to integrate next-generation reactors with AI infrastructures, especially in rural areas.

Fermi’s endeavor signifies Texas’s emergence as a hub for AI and energy convergence, attracting investments from tech giants like Tesla and Microsoft. However, Fermi’s unique nuclear focus, coupled with its political affiliations, distinguishes it in a competitive landscape.

Despite challenges including non-operational reactors and regulatory hurdles, Fermi’s vision is clear. The company is set to debut under the ticker symbol “FERM” on the Nasdaq and London Stock Exchange, with market observers keenly awaiting its performance and potential implications for Texas’s future in AI, energy, and politics.

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Mae De Vera, LAWIN.news

Mae De Vera is a passionate advocate, creative professional, and entrepreneur. A graduate of Political Science from Saint Louis University and a law student of Arellano University, Mae is dedicated to empowering marginalized communities through outreach programs and advocacy. With a background in digital artwork, event flyer design, ESL teaching, and business management, Mae brings a versatile skill set to her endeavors. She also embraces her love for nature through farming, integrating sustainability into her life. Mae’s leadership experience as a consistent school student leader reflects her commitment to making a difference. Today, she combines her creativity, advocacy, and entrepreneurial spirit to create impactful stories and initiatives that inspire change. Disclaimer: The views and beliefs expressed by the author do not necessarily represent those of LAWIN.news, its management, editorial board, or staff.

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