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. Trading volume reached 86.0M shares, coming in about 352% above its three-month average of 19.0M shares. Fermi IPO'd in 2025 and has fallen 89% since going public. The S&P 500 (SNPINDEX:^GSPC) closed at 7,805, down 0.02%, while Nasdaq Composite (NASDAQINDEX:^IXIC) closed at 27,204, down 0.15%. Among integrated power generation and AI data-center infrastructure development peers, Quanta Services (NYSE:PWR) closed at $688.96, down 0.84%, while Talen Energy (NASDAQ:TLN) closed at $382.14, up 0.62%, as investors kept watching AI campus power demand and project execution. Fermi secured a credit support agreement from AMD today, sending its stock 14% higher. The funding backstop will help Fermi support "a lease for phase one of Fermi's Project Matador energy and AI buildout ... with 222 megawatts (MW) of gross power capacity in line with Fermi's first customer lease as announced on August 10, 2026." Fermi and AMD also agreed to a separate framework to support an expansion plan up to 650 MW. Continue reading