Fermi Inc and AMD Partner for Project Matador AI Campus

Fermi Inc signed a credit support agreement with AMD on October 13, 2026, to fund the first phase of Project Matador in Carson County, Texas. This initial phase provides 222 megawatts of gross power capacity and serves as a critical milestone for securing the project's overall financing.

The two companies also established a partnership framework to support future expansions of up to 650 megawatts of gross power capacity. Project Matador is designed as a massive energy and AI ecosystem that utilizes a private grid to bypass traditional power constraints. The long-term objective is to ramp capacity to approximately 17 GW.

To support hyperscale AI infrastructure, the campus will integrate a diverse energy mix, including combined-cycle natural gas, nuclear power, solar, and battery storage. AMD executives noted that the collaboration is intended to expand the infrastructure capacity required to bring next-generation AI solutions to market amid unprecedented demand for compute.