Fermi lands a $6.5 billion tenant for its Amarillo-area campus
Fermi signed a 15-year, $6.5 billion lease with AI cloud provider TensorWave for a 222-megawatt data center at Project Matador in Carson County — with an option to grow past 650 MW. It's Fermi's first binding customer after months of leadership departures, a sliding stock, and local pushback over water.
Open in the XNewsAi app →Why this matters
For the 806
Paper gigawatts just became a signed lease — that's the difference between a pitch and a project. If Matador builds out, that's years of Panhandle construction, electrical, and mechanical work. The water questions your neighbors raised don't go away; they get more urgent.
What we know
- Fermi signed a 15-year lease with AI cloud provider TensorWave valued at $6.5 billion for a 222 MW data center at Project Matador in Carson County, near Amarillo.
- The agreement includes an option to expand beyond 650 MW across two additional buildings.
- It is Fermi's first binding customer agreement, following a stretch of executive departures, a significant stock decline, and community pushback over the project's water use.
What we don't know
- Construction and energization timelines for the leased capacity — a signed lease is a commitment, not a completed build.
- How Project Matador's power and water supply plans will be met at this scale — the questions local residents have raised remain open.
- Only one wire report found so far — no second independent confirmation of deal terms yet.
Sources
- PrimaryReuters ↗
Reuters wire report on the signed lease, carried by Texas outlets.