Fermi Inc.

Fermi Inc., operating as Fermi America, is an advanced energy and hyperscaler development company focused on building next-generation private electric grids to power artificial intelligence (AI) compute. The company's mission is to directly supply the energy needs of compute-intensive businesses, aiming to secure America's leadership in both energy and AI. While maintaining a presence at its Project Matador site in Amarillo, Texas, Fermi Inc. recently established its new corporate headquarters in Dallas, Texas.

The company's flagship initiative, Project Matador, is a large-scale private HyperGrid campus located in the Texas Panhandle. This ambitious project is designed to deliver up to 17 gigawatts (GW) of behind-the-meter energy and support up to 15 million square feet of AI-ready hyperscale compute infrastructure by 2038. Project Matador integrates a diverse energy portfolio, including combined-cycle natural gas, advanced nuclear power (AP1000 reactors), utility grid power, solar power, and battery energy storage, to provide highly redundant and scalable power solutions for hyperscale AI and advanced computing applications.

In recent developments, co-founder Toby Neugebauer stepped down as CEO and chairman in April 2026, alongside the resignation of CFO Miles Everson. Marius Haas was appointed Chairman, and Jacobo Ortiz Blanes and Anna Bofa now serve as Co-Presidents in an "Office of the CEO" during the search for a permanent chief executive. Co-founded by former U.S. Energy Secretary Rick Perry, Fermi America is strategically positioned to address the significant power demands of the AI industry, having secured a clean air permit for Project Matador and partnered with Westinghouse for nuclear reactor deployment. The company is currently navigating internal changes under its "Fermi 2.0" initiative, aiming to transition from a startup to a scaled enterprise.