(Bloomberg) —
Fermi Inc., a real estate investment trust co-founded by former Texas Governor Rick Perry, has filed for an initial public offering as it looks to create a campus for energy-intensive computing in Amarillo, Texas.
The REIT has filed for a listing on the Nasdaq Global Select Market and said that it plans to apply for a listing on the London Stock Exchange, according to a Monday filing with the US Securities and Exchange Commission. Perry, who previously served as the US secretary of energy during President Donald Trump’s first term, is a director at the company that was founded in January.
Fermi’s “Project Matador” is a development-stage advanced energy and intelligence campus with more than 5,000 acres of land at Texas Tech University. The company hopes to draw data center and hyperscaler tenants, and it expects to have one gigawatt of power online by the end of next year.
The infrastructure and real estate firm aims to have up to 11 gigawatts of power to computing centers on-site by 2038 through a mix of natural gas, solar energy and nuclear power, according to the filing.
Fermi will trade under the symbol FRMI on both exchanges. UBS Group AG, Cantor Fitzgerald and Mizuho Financial Group are leading the offering, according to the filing.
© 2025 Bloomberg L.P.
