Most Innovative Companies Final Deadline: October 3 LOGIN SUBSCRIBE | FastCo Works advertisement BYÂ Sarah Fielding Listen to this ArticleMore info 0:00 / 0:00 Despite being under a year old and having no revenue, Fermi America had a very successful initial public offering (IPO) this week. The company, which aims to provide data and power centers for artificial intelligence, saw its shares (Nasdaq: FRMI) close at $32.53 on their first day of trading Wednesday, up nearly 55% from their IPO price of $21 per s ...

(Bloomberg) — Fermi Inc. shares rose 55% in their debut after the energy real estate investment trust raised $682.5 million in its US listing, the latest sign of investors’ hunger for exposure to a boom in artificial intelligence. Most Read from Bloomberg Shares of the company closed at $32.53 versus an IPO price of $21. Fermi sold 32.5 million shares after pricing them within a marketed range of $18 to $22. The trading gave the Amarillo, Texas-based REIT, which was co-founded by former US Secretary of ...

Core Viewpoint - Fermi is set to debut on the Nasdaq after raising $682.5 million in its IPO, marking a significant test of market appetite for a pre-revenue data center real estate investment trust valued at over $10 billion [1][2] Group 1: Company Overview - Fermi, founded in January 2025, achieved a valuation of $12.5 billion in its IPO, significantly up from a $3 billion valuation just months prior [2] - The company aims to build the world's largest energy and data complex, utilizing nuclear, natural gas, and solar power [3] Group 2: IPO Details - Fermi sold 32.5 million shares at $21 each in an upsized IPO, with initial marketing between $18 and $22 [2] - The flagship project, Project Matador, is expected to deliver 1.1 gigawatts of power by the end of 2026, scaling up to 11 gigawatts [4] Group 3: Market Sentiment and Future Outlook - The current demand for AI-driven infrastructure is driving investor interest, with Fermi's political ties seen as a potential advantage [3] - Analysts emphasize that execution will be crucial for sustaining market enthusiasm, with a focus on signed contracts and project progress [5] - A successful IPO could encourage further investments in long-duration, capital-intensive AI infrastructure projects [5]