Fermi Rallies 13% as AI Stocks Bounce Back

Overview

• Fermi shares rose 13.39% to close at $9.74 on Tuesday as money flowed back into AI and high-performance computing names.
• The gain followed a prior-day drop after a filing revealed a prospective tenant exited a $150 million leasing agreement tied to the Texas campus.
• Fermi said it remains in discussions with other companies on potential leases for its planned 11 GW Project Matador site.
• The company earlier this month signed a deal with Southwestern Public Service, an Xcel Energy unit, for up to 200 MW of power for the campus.
• Evercore ISI reaffirmed a Buy rating on December 15 with a $20 price target, and reported consensus shows a Buy with targets ranging from $20 to $39.20 and a $30 median.