Fermi Secures AMD Credit Support for 222 MW AI Infrastructure Project in Texas

Fermi and AMD Forge Strategic Partnership for AI Infrastructure Expansion

Fermi Inc. announced a credit support agreement with AMD to back the first phase of Project Matador, its large-scale energy and AI infrastructure development in Carson County, Texas1

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. The initial buildout will deliver 222 megawatts (MW) of gross power capacity, aligning with Fermi's first customer lease announced on August 10, 20261

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. This credit support agreement represents a critical milestone toward securing project financing for the AI data center infrastructure2

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The partnership extends beyond the initial phase. Fermi and AMD signed a separate framework agreement outlining potential expansion of up to 650 MW of power capacity across phases two and three of Project Matador1

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. FRMI stock surged approximately 18% following the announcement, with trading volume reaching 59.41 million shares—more than three times the 100-day average of 18.82 million2

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Addressing AI Computing Demand Through Dedicated Power Infrastructure

Lee McIntire, Fermi's Chief Executive Officer, emphasized the strategic advantages underpinning Project Matador. "We have the land, the permits, the water, the power equipment, and the fiber network that give us distinct performance advantages," McIntire stated1

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. The company has invested more than $1.5 billion in the project's buildout to date2

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Mathew Hein, Senior Vice President and Chief Strategy Officer of Corporate Development at AMD, highlighted the driving force behind the collaboration. "The pace of AI innovation is driving unprecedented demand for compute and the large-scale data center infrastructure needed to support it," Hein explained1

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. The partnership aims to enable customers to deploy AMD-powered AI infrastructure at scale while supporting AMD's continued data center momentum1

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Project Matador's Ambitious 17 GW Vision for Hyperscale AI

Project Matador represents one of the world's largest advanced energy and AI ecosystems under development in the Texas Panhandle1

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. Fermi designed the campus to solve what it identifies as the single biggest constraint in AI infrastructure: access to large-scale, reliable power delivered behind the meter on a private grid built and operated on site1

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Subject to binding customer agreements, the project is expected to ramp to approximately 17 gigawatts (GW) of power capacity, with capital deployment matched to commercial commitments1

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. The behind-the-meter campus will integrate multiple energy sources: the nation's biggest combined-cycle natural gas project, one of the largest new nuclear power complexes in America, utility grid power, solar power, and battery energy storage to support hyperscale AI and advanced computing1

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This integrated energy approach positions Fermi to address the surging electricity requirements of next-generation AI solutions by providing dedicated infrastructure that can scale with customer demand2

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. The collaboration between Fermi and AMD signals how technology companies are increasingly partnering directly with energy infrastructure providers to secure the power resources essential for advanced computing workloads.