Fermi Inc Stock (FRMI) Hit by $150M Tenant Funding Exit: Latest News, Forecasts, and Analyst Targets as of Dec. 15, 2025
Fermi Inc. (NASDAQ & LSE: FRMI) is having the kind of month that separates “big idea” infrastructure stories from the cold reality of signed contracts and cash timing. The headline catalyst: a prospective first tenant for Fermi’s flagship Texas development, Project Matador, terminated an agreement that could have advanced up to $150 million toward construction costs—triggering a violent market reaction and a fresh round of debate about what FRMI is worth before meaningful revenue arrives. FT Markets+1 Below is what’s known right now (as of December 15, 2025), what analysts are forecasting, and what to watch next. What happened to