Fermi Inc. posted a fact sheet detailing a binding 15-year phase one lease with TensorWave at the Project Matador site, generating $6.5 billion in contracted revenue over the initial term. The agreement covers 222 MW of total power capacity and 156 MW of critical IT capacity, with phased delivery beginning in Q4 2027 and completing by early 2028. The lease includes two five-year renewal options, 2.5% annual escalators, and an estimated project-level NOI margin of approximately 75-80%. Credit support from AMD backs the arrangement, commencing once construction is complete and rent starts. Fermi Inc. operates in the nuclear energy and data center infrastructure sector.
