Stock Market Today, Oct. 13: Fermi Surges 14% on AMD Credit Support for Project Matador
AMD's backing of Fermi's 222 MW lease signals financing momentum for AI campus infrastructure, though full funding hurdles remain ahead, Oct. 13, 2026.
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.
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