Stock Market Today, Oct. 13: Fermi Surges 14% on AMD Credit Support for Project Matador
Fermi (NASDAQ:FRMI), an AI campus and on-site power infrastructure developer, closed at $3.72, up 14.46%. The stock jumped after a premarket credit support agreement with AMD backed Phase 1 of Project Matador. Investors are monitoring financing progress for the 222-MW lease. Trad
Fermi (FRMI) stock surged 14% to close at $3.72 on October 13, 2023, after securing a credit support agreement with AMD for Phase 1 of Project Matador. Trading volume surged to 86.0 million shares, a notable 352% increase compared to the company's three-month average of 19.0 million shares. Fermi, an AI campus and power infrastructure developer, went public in 2025 and has since experienced an 89% decline in stock price.
The S&P 500 and Nasdaq Composite both closed at 7,805 and 27,204, respectively, with minor declines of 0.02% and 0.15%. In the power generation and AI data-center infrastructure sector, Quanta Services and Talen Energy saw smaller gains and losses. Fermi's credit agreement with AMD is a significant step, enabling the company to support 222 megawatts of gross power capacity for its first customer lease, announced on August 10, 2026. AMD and Fermi have also agreed to a framework for potential expansion up to 650 megawatts.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
