Fermi America plunges after losing $150M Matador funding deal

Fermi America shares sank over 46% after an investment-grade tenant withdrew a $150M construction funding agreement for its Project Matador complex when the LOI exclusivity window expired. The Rick Perry-backed firm is now in talks with other potential tenants for 2026 power delivery as it pursues plans to build the worlds largest integrated energy-and-data campus.