FRMI (Fermi Inc. Common Stock) is a recent IPO.
It began trading on October 1, 2025, giving it less than a year of public history. Many charts and metrics below are sparse or empty until more price, financial, and analyst history accumulates — the affected sections are flagged individually so you can tell limited history from missing data.

FRMI does not currently pay a dividend.
Sell-side consensus EPS, revenue estimates, YoY growth, forward P/E, and per-year analyst coverage — for any covered stock.
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A year-by-year projected price path from the sell-side EPS consensus, with an editable target P/E and the implied annual return from today's price.
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See price against where its own fundamentals say it should trade — the shaded gap is the discount or premium, across five valuation lenses.
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See exactly how FRMI's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
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Fermi Inc. is dedicated to establishing essential energy infrastructure. The company plans to build an integrated campus that combines energy production with data center facilities, designed to meet the significant requirements of forthcoming artificial intelligence infrastructure. Co-founded by Rick Perry, Toby Neugebauer, and Griffin Perry, the firm was established on January 10, 2025, and operates from its headquarters in Amarillo, Texas.

Burford Brothers Inc. purchased a new stake in shares of Fermi Inc. (NASDAQ: FRMI) during the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 294,416 shares of the company's stock, valued at approximately $2,697,000. Fermi accounts for about 1.0% of Burford Brothers

Data centers face soaring AI-driven demand amid mounting barriers to new supply, creating a scarcity effect and widening moats for established platforms. Digital Realty, Equinix, and Iron Mountain are industry leaders, but current valuations appear rich; I recommend waiting for a pullback. New entrants like Blackstone Digital Infrastructure Trust and Fermi America offer differentiated strategies, but BXDC lacks operating history and FRMI remains high-risk, pre-revenue.

Fermi Inc. is rated Strong Buy, with a transformative tenant deal and major project catalysts sharply improving its risk-reward profile. FRMI's turbine and permit capacity position it to capture surging AI compute demand. Governance drama has eased, and Fermi 2.0 delivered, opening the path for further tenant signings and a re-rating.

The startup, which went public in a splashy IPO last year, also named a new CEO following months of legal and C-suite turmoil.

Fermi reported zero revenue for the fourth consecutive quarter, missing analyst estimates of $72 million to $148 million. The company is still in pre-revenue mode while burning borrowed cash on massive construction projects.