Fermi Signs Credit Support Agreement with AMD and Announces Partnership
Key Highlights
- ➤AMD credit support covers 222 MW phase-one Project Matador lease
- ➤Fermi and AMD framework targets expansion up to 650 MW capacity
- ➤Fermi says agreement marks milestone toward securing project financing
- ➤Project Matador has more than $1.5 billion invested in buildout to date
- ➤Project Matador expected to ramp to approximately 17 GW, subject to binding customer agreements
Expert Statements
Lee McIntire, Chief Executive Officer of Fermi
“We are thrilled to partner with AMD as we advance development at Project Matador. Our strategic partnership establishes a framework for phases two and three. We have the land, the permits, the water, the power equipment, and the fiber network that give us distinct performance advantages. Our focus remains on building out our planned campus with top-tier partners like AMD.”
Mathew Hein, Senior Vice President and Chief Strategy Officer of Corporate Development at AMD
“The pace of AI innovation is driving unprecedented demand for compute and the large-scale data center infrastructure needed to support it. Our collaboration with Fermi is an important step in expanding the infrastructure capacity needed to bring next-generation AI solutions to market. Together, we are enabling customers to deploy AMD-powered AI infrastructure at scale and supporting our continued data center momentum.”
DALLAS, TX / ACCESS Newswire / October 13, 2026 / Fermi Inc. (Nasdaq:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced that it has signed a credit support agreement with AMD, the high performance and adaptive computing leader, supporting a lease for phase one of Fermi's Project Matador energy and AI buildout in Carson County, Texas, with 222 megawatts (MW) of gross power capacity in line with Fermi's first customer lease as announced on August 10, 2026. The agreement represents a key milestone toward securing project financing. The companies have also signed an agreement outlining a partnership and framework for future expansion of up to 650 MW of gross power capacity.
Lee McIntire, Fermi Chief Executive Officer said, "We are thrilled to partner with AMD as we advance development at Project Matador. Our strategic partnership establishes a framework for phases two and three. We have the land, the permits, the water, the power equipment, and the fiber network that give us distinct performance advantages. Our focus remains on building out our planned campus with top-tier partners like AMD."
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