🔴 Fermi is trading 5% down today after extending TensorWave lease closing to October 31

Fermi is trading 5% down at $4.89 after extending the TensorWave data-center lease closing date from September 30 to October 31, 2026.

• The 222-megawatt Project Matador agreement represents approximately $6.5 billion in expected revenue; remaining guaranty and financing conditions add execution uncertainty.
• All other lease terms remain unchanged. Major indexes were only modestly lower on September 23, 2026, while broader biotech strength did not offset the company-specific concern.