Company Overview - Fermi Inc. (NASDAQ:FRMI), also known as Fermi America, is engaged in the development of next-generation private electric grids to deliver highly redundant power to support artificial intelligence [4] Recent Performance - Fermi Inc. experienced a rebound of 7.58% on a recent Tuesday, closing at $8.09 per share, as investors engaged in bargain-hunting following a four-day losing streak [1] - The rally was driven by sustained investor confidence in the artificial intelligence industry and strong demand for data centers, despite earlier setbacks [1] Tenant Withdrawal - A major tenant, which has not been identified, withdrew from a $150 million agreement with Fermi Inc. earlier this month, although the reason for this termination was not disclosed [2] Future Prospects - Fermi Inc. is actively pursuing discussions with other companies for potential leasing agreements to mitigate the impact of the tenant withdrawal [3] - The company has also signed a power supply agreement with Southwestern Public Service Company (SPS), a subsidiary of Xcel Energy, to deliver up to 200 MW of power capacity to its data center [3]
Fermi (FRMI) Jumps 7.6% on Bargain-Hunting