Fermi Lands $6.5B Deal With AI Company TensorWave After a Tumultuous Year

Fermi Inc. signed a $6.5 billion lease letting AI cloud company TensorWave use part of its Amarillo, Texas data-center and power complex, ABC7 Amarillo reported August 10. The deal follows co-founder Toby Neugebauer's April firing, an 80% stock drop from Fermi's $15 billion IPO valuation, and Lee McIntire's August 12 appointment as CEO. Fermi's planned four-reactor nuclear project carries an estimated $17 billion cost.