Fermi Partners With AMD to Secure Credit Support for Texas AI Data Center Project
Fermi Inc. (NASDAQ: FRMI) has entered into a credit support agreement with Advanced Micro Devices, Inc. (NASDAQ: AMD) to back a lease for phase one of its Project Matador energy and artificial intelligence development in Carson County, Texas. The initial stage covers 222 megawatts of power capacity, building on a lease deal announced earlier in August 2026.
The backing from Advanced Micro Devices, Inc. marks a critical step for Fermi Inc. in securing project financing for its behind-the-meter energy campus. In addition to the initial lease backing, the two companies signed a broader partnership agreement establishing a framework to expand infrastructure capacity up to 650 megawatts in subsequent phases.
Investors will be watching how quickly Fermi Inc. converts its expansion framework into binding commitments. Project Matador has received over $1.5 billion in investments to date, with long-term plans to scale capacity up to 17 gigawatts as customer demand develops.
Key points
- Fermi Inc. signed a credit support agreement with Advanced Micro Devices, Inc. for phase one of Project Matador in Texas.
- The phase one lease covers 222 megawatts of gross power capacity in Carson County, Texas.
- The agreement helps Fermi Inc. move closer toward securing full project financing.
- A framework agreement allows potential expansion up to 650 megawatts of power capacity.
- Project Matador has received more than $1.5 billion in total buildout investment to date.
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What is the agreement between Fermi Inc. and AMD?
Fermi Inc. signed a credit support agreement with AMD to back a lease for phase one of Project Matador in Carson County, Texas, along with a partnership framework to expand capacity up to 650 megawatts.
Where is Fermi's Project Matador located?
Project Matador is located in Carson County in the Texas Panhandle. It is designed as a behind-the-meter private energy grid to power large-scale AI data center infrastructure.
How much capacity does Project Matador target?
Phase one covers 222 megawatts of power capacity, with a potential expansion up to 650 megawatts with AMD, and a long-term goal of ramping up to approximately 17 gigawatts subject to customer agreements.