Core Insights - Fermi Ord Shs (NASDAQ:FRMI) experienced a significant price increase following its Nasdaq debut, closing at $35.50 after-hours, a 9.14% rise from the previous day [1] - The company debuted at $25, reflecting a 19% increase from its initial public offering (IPO) price of $21, resulting in a valuation of $14.8 billion [2] Company Overview - Fermi, a data center real estate investment trust (REIT), sold 32.5 million shares at $21 each, after initially pricing them between $18 and $22 [3] - Founded in January 2025, Fermi achieved a $12.5 billion IPO valuation shortly after issuing convertible bonds at a $3 billion valuation, marking it as a rare pre-revenue company with a valuation exceeding $10 billion [4] Project and Future Plans - Co-founded by Rick Perry, Fermi aims to build an energy and data complex powered by nuclear, natural gas, and solar energy, with Project Matador expected to deliver 1.1 gigawatts by the end of 2026 and plans to scale up to 11 gigawatts [5] - The company has entered a non-binding 20-year letter of intent with its first tenant, with revenue anticipated to start in 2027 [5] Market Sentiment - Despite the positive debut, Benzinga's Edge Stock Rankings indicate that FRMI has a negative price trend across all time frames [6]