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← Fermi
Sun, Aug 9, 2026

Fermi signs $6.5 billion data center lease with TensorWave

Source document ↗

Key points

  • 222MW initial facility power, expandable to 650MW; 15-year term + two 5-year renewals
  • Not yet closed as of Q2 2026 10-Q — conditioned on work-letter execution, guaranties, and Fermi securing project financing, targeted to close on/before Sept 30, 2026

Deal

TensorWaveAug 2026
SiteProject Matador
Contracted capacity222 MW
Contract value$6.5B
Duration15 years + two 5-year renewal options
Expected launchQ1 2028