Fermi Inc. received on July 30, 2026 a subpoena from the US District Court for the Eastern District of New York, demanding documents related to Project Matador and former management. Four days later, on August 3, the SEC also filed its own document request covering the same territory. Project Matador aims to build one of the largest private energy campuses in the country with a capacity of up to 17 GW across approximately 8,400 acres leased from Texas Tech University, combining natural gas and nuclear power to feed AI data centers. The company went public in October 2025, raising approximately $746 million, but faces a cascade of legal troubles including a shareholder class-action lawsuit alleging that Fermi made misleading statements about tenant interest and a canceled $150 million funding deal.
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