Fermi IPO Stock: Rick Perry’s Energy and AI Data Venture Targets $13 Billion Valuation with Landmark Dual Listing
The race to power artificial intelligence and hyperscale computing has taken a dramatic turn with Fermi America IPO, as the Texas-based energy and infrastructure developer prepares to enter public markets. With a bold plan to merge nuclear, gas, solar, and storage into a single resilient platform, Fermi IPO stock is drawing attention from investors eager to capture a stake in what could become one of the most ambitious energy-data integrations in history.
The race to power artificial intelligence and hyperscale computing has taken a dramatic turn with Fermi America IPO, as the Texas-based energy and infrastructure developer prepares to enter public markets. With a bold plan to merge nuclear, gas, solar, and storage into a single resilient platform, Fermi IPO stock is drawing attention from investors eager to capture a stake in what could become one of the most ambitious energy-data integrations in history.
Fermi launches IPO with dual U.S. and London listing
Fermi America announced on September 24 the official launch of its roadshow for an initial public offering. The company, which will soon operate as Fermi Inc, intends to sell 25 million shares at an expected price range of $18 to $22 each. Underwriters will also hold a 30-day option to purchase an additional 3.75 million shares.
The offering is structured for a dual listing on both the Nasdaq Global Select Market and the London Stock Exchange, with the ticker symbol FRMI stock. At the midpoint of pricing, Fermi IPO would raise approximately $550 million, securing a market capitalization in the $12–13 billion range.
IPO Offer Snapshot
| Detail | Information |
|---|---|
| Ticker Symbol | FRMI |
| Shares Offered | 25 million |
| Price Range | $18 – $22 |
| Potential Proceeds | Up to $550 million |
| Expected Valuation | $12–13 billion |
| Listing Markets | Nasdaq & London Stock Exchange |
What makes Fermi stock different from other IPOs?
Unlike traditional energy firms or REITs, Fermi stock represents a hybrid model that merges power generation with advanced compute infrastructure. Its flagship development, Project Matador, will be built on a 5,236-acre site leased from Texas Tech University in Amarillo, Texas.
The project is designed to deliver HyperRedundant™, grid-independent power directly to AI and hyperscale customers, creating a continuous, secure energy supply. By combining nuclear, natural gas, solar, and battery storage, Fermi aims to reduce downtime risks that often plague data-heavy industries.
Key goals outlined by the company include:
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Building 11 GW of capacity by 2038
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Bringing the first 1 GW online by 2026
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Offering energy-plus-data solutions under one operational umbrella
Leadership and backing behind Fermi Inc
Founded in January 2025 by former U.S. Energy Secretary Rick Perry and financier Toby Neugebauer, Fermi Inc positions itself as both a technology innovator and energy disruptor. Its leadership touts deep experience across politics, capital markets, and infrastructure development.
The IPO is underwritten by a consortium of major financial institutions including UBS Investment Bank, Evercore ISI, Cantor Fitzgerald, and Mizuho, ensuring broad market reach.
Financial standing and challenges for investors
Despite its ambitious growth trajectory, Fermi America IPO remains at a pre-revenue stage. As of June 2025, the company reported a net loss of $6.4 million, driven by administrative expenses, share-based compensation, and convertible note interest.
Investor considerations include:
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No current revenue – future profitability depends on timely execution of large-scale projects.
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Regulatory and technical hurdles – nuclear and hybrid grid projects face lengthy approval cycles.
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Capital intensity – sustained funding will be required to meet multi-gigawatt capacity goals.
Timeline of the Fermi IPO
Market reports suggest that pricing for the Fermi IPO stock will occur on September 30, 2025, with trading expected to begin on October 1, 2025. If successful, Fermi America could quickly become one of the most high-profile listings of the year, reflecting surging global demand for energy-secure AI infrastructure.
| Date | Event |
|---|---|
| Sept 8, 2025 | Fermi files initial IPO paperwork |
| Sept 24, 2025 | Roadshow launched, offering terms announced |
| Sept 30, 2025 | Pricing of IPO shares |
| Oct 1, 2025 | Trading debut expected on Nasdaq and LSE |
Risks and outlook for Fermi IPO stock
While enthusiasm for Fermi IPO stock is strong, some analysts highlight concerns. Questions around water usage, grid interconnection, and long-term construction financing could test the viability of Fermi Inc’s projections. Public commentary has also raised skepticism about whether timelines for power delivery are realistic.
Still, for investors seeking exposure to the fusion of energy security and artificial intelligence growth, Fermi IPO represents a unique entry point. If executed as planned, Fermi stock could define a new category of real estate and infrastructure, making its ticker FRMI stock one to watch as markets open.
