Home / Business and Economy / Fermi's Texas Grid Project Stumbles, Shares Plunge Over 13%
Fermi's Texas Grid Project Stumbles, Shares Plunge Over 13%
13 Nov
Summary
- Fermi reported steep Q3 losses of $346.8 million
- Investors unimpressed with Fermi's ambitious Texas grid plans
- Company's stock price dropped over 13% on the news
In the past week, Fermi (NASDAQ: FRMI), a company developing next-generation power infrastructure, has faced a significant setback in the stock market. On November 13th, 2025, the company's shares dropped by over 13% after it reported its Q3 financial results.
Fermi had been making headlines with its plans to build "the world's largest private [electricity] grid in the Texas Panhandle" to support facilities like AI-capable data centers. However, the company's latest quarterly figures failed to impress investors. Fermi's net loss according to generally accepted accounting principles (GAAP) for the period was a steep $346.8 million, or $0.84 per share.
Despite Fermi's emphasis on the "milestones" it achieved during the quarter, such as securing a lease for the ground to build its ambitious Project Matador campus, the market remains skeptical. Investors appear to be growing impatient, wanting to see more tangible progress on the company's high-profile initiatives before committing their funds.
As Fermi continues to navigate the challenges of bringing its grand plans to fruition, the road ahead appears to be a long and uncertain one. The company's stock remains a highly speculative investment, and investors will be closely watching for any signs of meaningful progress in the coming months.
