Fermi Shares Plunge 13% on $605M Cash Burn and No Tenants Secured
Fermi closed down 13.3% after reporting a $1.13 GAAP loss per share and burning $605 million in free cash flow in 2025 without securing any tenants. Shares have tumbled about 75% since IPO, threatening its $80–$120 billion data center buildout on a 99-year lease.
1. Stock Plunge and Volume Surge
Fermi shares fell 13.27% to close at $5.36, with trading volume of 45.7 million shares—about 480% above its three-month average.
2. Wider Losses and Cash Burn
The company reported a $1.13 GAAP loss per share for 2025 and burned $605 million in free cash flow, remaining pre-revenue and dependent on future funding.
3. Tenant Void Threatens Buildout
Fermi has yet to secure any tenants for its Trump-named Texas AI data center and power project, jeopardizing its $80–$120 billion infrastructure buildout under a 99-year lease.
Related News
ELF
Elf Beauty Q4 Sales Jump 35% to $449.3M, Forecasts Lower FY27 Sales
ELF•
IPW
iPower Cuts Q3 Costs 66%, Narrows Loss to $0.3M, Secures $2.6M Sublease
IPW•
ELF
e.l.f. Beauty Marks 29th Consecutive Sales Growth, Reinvests $58.5M Tariff Refunds
ELF•
NVDA
Nvidia Tops $91B Sales Forecast, Boosts Dividend and Buyback Program
NVDA•
NVDA
Nvidia Cuts China From Outlook, Highlights $1 Trillion Hyperscaler Capex Forecast
NVDA•
Sources
SSBBM
+1 more