Fermi Aims to Power AI's Future with 11GW of Grid-Independent Energy

Fermi's ambitious plan to build a multi-gigawatt energy and data center campus in Texas could provide a major boost to America's AI economy.

Published on Feb. 8, 2026

Got story updates? Submit your updates here. ›

Fermi, a financial services company, is developing Project Matador, a multi-gigawatt energy and data center campus in Amarillo, Texas, to support the growing power needs of AI infrastructure. The company aims to deliver up to 11 gigawatts of low-carbon, HyperRedundant power from a mix of natural gas, nuclear, and solar sources directly to compute-intensive businesses by 2038. With key regulatory approvals in progress and strategic partnerships, Fermi believes Project Matador represents a unique opportunity to drive AI innovation in the U.S.

Why it matters

As AI becomes an increasingly critical driver of technological progress, the demand for reliable, grid-independent power to support compute-intensive AI workloads is growing rapidly. Fermi's ambitious plans to develop a massive, multi-source energy campus could help meet this demand and solidify America's position as a global leader in AI development.

The details

Fermi's Project Matador is a 5,236-acre site in Amarillo, Texas that is strategically located near major natural gas fields, a high-radiance solar corridor, and the Department of Energy's Pantex nuclear weapons facility. The company plans to leverage this location to develop up to 11GW of power capacity from a mix of natural gas, nuclear, and solar sources. Fermi has already secured a 99-year ground lease with Texas Tech University and is working to obtain regulatory approvals, including a combined license application for 4GW of nuclear power. The company expects to have 1.1GW of power online by the end of 2026 to attract AI-focused tenants.

  • Fermi expects to secure 1.1GW of power for its operations by the end of 2026.
  • Fermi's combined license application for 4GW of nuclear power has been accepted for processing by the U.S. Nuclear Regulatory Commission.

The players

Fermi

An advanced energy and hyperscaler development company purpose-built for the AI era, with a mission to deliver up to 11GW of low-carbon, HyperRedundant power directly to the world's most compute-intensive businesses.

Project Matador

A multi-gigawatt energy and data center development campus designed by Fermi to support the accelerating needs of AI infrastructure, situated on a 5,236-acre site in Amarillo, Texas.

Texas Tech University System

The owner of the land on which Project Matador is located, which Fermi has secured through a 99-year ground lease agreement.

U.S. Nuclear Regulatory Commission

The agency that has accepted Fermi's combined license application for 4GW of nuclear power at Project Matador for processing.

Pantex Plant

The U.S. Department of Energy's primary nuclear weapons center, located in close proximity to Project Matador, which Fermi believes will provide access to a highly experienced nuclear workforce.

Got photos? Submit your photos here. ›

What’s next

Fermi is working to obtain the necessary regulatory approvals, including its combined license application for 4GW of nuclear power, to bring its ambitious energy campus plans to fruition.

The takeaway

Fermi's Project Matador represents a bold and innovative approach to supporting the growing power needs of the AI industry, leveraging a strategic location, diverse energy sources, and partnerships to create a grid-independent, multi-gigawatt energy campus that could become a critical piece of America's AI infrastructure.