Mentioned:
One of the most ambitious data centre projects in Texas has just landed their first customer lease.
What’s happening:
- Fermi (NASDAQ: FRMI) has landed a new 15 year deal with TensorWave for hosting artificial intelligence workloads at their data centre campus located in Carson County, Texas worth approximately $6.5B USD
By the numbers:
- The new deal between Fermi and TensorWave has two 5 year renewal options
- If TensorWave exercises their expansion rights for additional data centre capacity their partnership with Fermi would exceed 650 megawatts of power capacity
Why it matters:
- This is the first customer lease that Fermi has entered into for their Project Matador data centre campus
Going deeper:
- TensorWave plans to deploy tens of thousands of AMD’s (NASDAQ: AMD) Instinct GPUs for both artificial intelligence training and inference compute at Fermi’s Project Matador data centre campus
- Fermi has publicly stated that their new lease agreement with TensorWave is conditional on Fermi raising project financing and securing required guarantees of TensorWave’s obligations
The intrigue:
- Former United States Energy Secretary Rick Perry is one of the co-founders of Fermi and is one of the single largest shareholders
