• Fermi posted a net loss of USD 188.69 million for the three months ended March 31, 2026, versus a net loss of USD 78,000 in the prior-year period.
• Operating loss widened to USD 166.24 million from USD 78,000, as general and administrative expense climbed to USD 166.24 million, including USD 134 million of share-based compensation.
• Other expense was USD 22.45 million, reflecting a USD 24.8 million loss on extinguishment of the Macquarie Term Loan, while interest income rose to USD 2.35 million.
• Cash used in investing activities totaled USD 441.19 million, driven by early-stage Project Matador development, while cash provided by financing activities was USD 283.3 million.
• Updates included final TCEQ approval for an initial ~6 GW Clean Air Permit, filing for an additional 5 GW permit, formation of turbine warehouse entities, USD 396.6 million outstanding under a USD 500 million MUFG equipment facility, and board-led leadership changes including appointment of an Interim Office of the CEO.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Fermi Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0002071778-26-000032), on May 15, 2026, and is solely responsible for the information contained therein.