Core Viewpoint - Fermi, an AI energy infrastructure company co-founded by former Trump administration Energy Secretary Rick Perry, experienced a dramatic stock price drop of 46% due to the announcement that its first major tenant withdrew a $150 million investment commitment for a construction project [1][3]. Group 1: Financial Impact - The withdrawal of the $150 million investment was intended to support the construction of a large AI park in West Texas, leading to a significant decline in Fermi's stock price, which has now retreated 70% from its peak since its October listing [3]. - Despite the tenant's withdrawal, Fermi's management emphasized that negotiations regarding leasing terms are ongoing and have not completely broken down [3]. Group 2: Market Sentiment and Analyst Opinions - All nine Wall Street firms covering Fermi have given it a "buy" rating, while approximately 38% of its float has been borrowed for short selling, indicating a mixed market sentiment [4][5]. - Fermi's investment advisor, Ocean Wall, attempted to downplay the impact of the tenant's withdrawal, asserting that the underlying logic of "power shortages" in AI computing remains unchanged [5]. Group 3: Political and Strategic Context - Fermi is not only an AI concept stock but also carries significant political implications, with Rick Perry's background as a former Texas governor and Energy Secretary under Trump [6]. - The company plans to build the world's largest energy and data park in Amarillo, Texas, with an estimated cost exceeding $50 billion, including the construction of four Westinghouse AP1000 nuclear reactors, aiming for a total power generation capacity of 11 gigawatts [6].