Why Fermi Rallied Today
The speculative AI data center play received positive attention this week, with OpenAI in the spotlight.
Why Fermi Rallied Today
Overview
Shares of Fermi (NASDAQ: FRMI) rallied as much as 16.5% on Wednesday, before settling into an 8.7% gain on the day, even as markets broadly sold off.
Fermi has been a controversial but very interesting AI infrastructure stock, given the early stage of its data center campus build-out and vast ambitions.
Details
Fermi is building a massive power-delivery and AI data center campus, called Matador, in West Texas. However, as of today, it has not signed up a customer. Back in April, Fermi's CEO and CFO resigned amid a broad shake-up, in an apparent admission that its current leadership wasn't executing on drawing in customers to the project.
Source
Originally published at www.fool.com.
