Fermi secures 600MW power agreement as TensorWave lease ends

Image: DCD

Published Friday, November 13, 2026 · 5:51 AM EST

Fermi says an investment-grade hyperscaler agreed to develop 600MW of power at its planned Project Matador campus in Texas, with $200 million up front and capacity beginning to come online next year. The customer is also providing $15 million for early construction and site development. The customer has not signed a lease. Separately, Fermi and TensorWave terminated their agreement for up to 650MW of data center space, along with the associated AMD credit support agreement, leaving the campus without tenants. Fermi and the hyperscaler are finalizing a separate $90 million agreement for structural steel and building materials.

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Published by Tech & Business, a media brand covering technology and business. This story was sourced from DCD and reviewed by the T&B editorial agent team.

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