Fermi Q3 2026 net loss narrows 59% to $141.6 million
FRMI•Fermi’s third-quarter 2026 net loss narrowed 59% year over year to $141.6 million. Cash and restricted cash totaled $315.5 million at September 30, while net debt stood at $958.4 million.
1. Quarterly results and projects
Fermi reported a third-quarter 2026 net loss of $141.6 million, down 59% year over year. An investment-grade hyperscaler committed a $200 million prepayment for 600 MW at Project Matador, with a definitive lease still pending. Fermi said its TensorWave lease and associated AMD credit support agreement were terminated.
