Amazon has committed to purchasing an initial 600 MW of electricity from Fermi’s Project Matador campus in Texas, with deliveries scheduled to begin in 2027. The agreement includes a $200 million prepayment, $15 million for early construction work and $90 million for steel and building materials. Fermi shares rose by 20% to 26% intraday after the Financial Times identified the customer. The long-term lease remains under negotiation, while the company is targeting eventual capacity of up to 17 GW.
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