AMD Partners with Fermi on AI Power Infrastructure and Credit Support Agreement

Fermi Inc. shares surged 14.46% to close at $3.72 after securing a credit support agreement and strategic partnership with Advanced Micro Devices (AMD). The agreement backs phase one of Fermi's Project Matador in Carson County, Texas, supporting 222 megawatts of gross power capacity to help secure project financing. AMD and Fermi also created a framework covering future expansion of up to 650 megawatts. Project Matador has received over $1.5 billion in investment to date, aiming to eventually supply up to 17 gigawatts of dedicated private grid power for artificial intelligence infrastructure.