AMD Backs Fermi With Credit Support Agreement for Texas AI Power Project

Advanced Micro Devices has partnered with Fermi Inc. through a credit support agreement to finance Phase 1 of the Project Matador AI energy buildout in Carson County, Texas. The arrangement supports 222 megawatts of gross power capacity, with a framework enabling expansion up to 650 megawatts to bypass public grid bottlenecks for AI hardware. Project Matador has received over $1.5 billion in investment to date, aiming for up to 17 gigawatts. Following the announcement, Fermi's stock jumped 14.46% to $3.72 on trading volume exceeding 86 million shares.