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750 Fermi America IPO Is a Leap of Faith on Debt, Data Centers—and Trump

The Information
Miles Kruppa @ The Information · 10/01/2025 10:52 EDT

Fermi America IPO Is a Leap of Faith on Debt, Data Centers—and Trump

Fermi America has a grand plan: Assemble the largest data center complex ever, an Amarillo, Texas, facility that will suck up enough energy to power 8 million homes.

Still, when the company’s shares begin trading on the Nasdaq on Wednesday, Fermi is essentially asking investors to take a Texas-size leap of faith on a months-old business that could become the next topsy-turvy meme stock. Adding to the risk: It’s run by a CEO whose last tech company went belly-up, leaving a trail of accusations against him f

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