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FRFRMI

Fermi Inc. Common Stock

$FRMI·$3.6B·Regulated Electric·Utilities
$5.69-15.5%YTD-16.8%1Y-82.5%
Mentions · last 7 days
2026-07-25: 43 posts2026-07-26: 38 posts2026-07-27: 103 posts2026-07-28: 95 posts2026-07-29: 87 posts2026-07-30: 114 posts2026-07-31: 92 posts576+7%
Price updated 2d ago·X counts updated 2d ago
FRFRMI
$FRMIFermi Inc. Common Stock
$5.69-15.45%576 posts+7%
AI analysisFundamentalsVoices on X
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AI verdict & sentimentAI analysisGenerated by AI from underlying data

Top X posts

Today's AI verdict on what's driving $FRMI, plus how loud the X conversation is and which way it's leaning.

AI analysis

TickerTalks’ read on the fundamentals and what’s driving the move.

Hinges on a big eventEvent coming upAI verdict · as of 2026-07-31

A known event soon (earnings, a ruling, etc.) will likely decide the next move.

Fermi is priced entirely on a July 31 hyperscaler-signing deadline — the CCO's $13.5M contract vests if a deal lands tomorrow, and heavy call flow is betting it does.

Fermi is a speculative data-center-power development company that has spent the year building out grid-scale infrastructure for hyperscaler customers. There is currently zero recurring revenue, so the whole equity value depends on a specific transaction closing.

  • The CCO compensation is the specific tell: a new 8-K disclosed the Chief Commercial Officer will earn $6.5M ($13.5M with multipliers) if Fermi signs its first hyperscaler tenant deal before July 31, 2026 — tomorrow — which the market treats as management's public commitment a deal is imminent.
  • The options positioning is confirming: heavy call flow of $900k in Sep $10C, $700k in Oct $10C, and $726k in Nov $10C — real institutional call-buying at strikes 50% above current price into a narrow catalyst window.
  • The capital structure supports the ramp: $431M in convertible notes closed July 14 provides the balance-sheet capacity to fund the buildout, and the first Siemens turbines have arrived at the Port of Houston — physical evidence the buildout is happening.

The stock sits at the 7th percentile of its 52-week range with FY27 consensus at $1B revenue versus current ~$0M — the whole math depends on landing the first hyperscaler contract. What extends the move is any 8-K in the next 48 hours announcing a tenant (AMZN 20-30 year lease is the bull-model); what breaks it is missing the deadline or a compensation-structure downgrade.

Agrees with X sentimentX's bull frame is exactly right — the CCO contract structure is management's public commitment that a hyperscaler signing is imminent, and the heavy call flow ($900k in Sep $10C plus more) confirms institutional positioning; the honest add is that missing tomorrow's July 31 deadline is a real single-event risk, not just a technical detail.

What to watch: Any 8-K disclosure in the next 48 hours (before/after the July 31 deadline) — specifically any hyperscaler tenant announcement with a lease term and dollar value. A signed AMZN or similar hyperscaler contract reprices the stock to 3-5x current; missing the deadline or a compensation-structure amendment breaks the whole thesis.

On the calendar: 2026-08-13 — Q2 2026 earnings

X sentiment

What the X crowd is saying right now — descriptive, summarised from the day’s posts.

Bullish sentiment57 posts analyzed · as of 2026-08-01

Sentiment on FRMI is loud-options-flow bullish. Bulls point to whale $540K in 7C, $900K in 9/18 10C, $700K in 10/16 10C, $726K in 11/20 10C, and 23% weekly gain as evidence a major hyperscaler lease (rumored AMZN, 20-30 year) is imminent. Skeptics note nothing was announced (frustration posts about waiting) but the option flow keeps stacking. Job posting anomalies being cited as further evidence. The community is heavily speculating on an imminent 8-K release. 'Options flow doesn't mean shit' captures the modest bear voice.

Read the AI verdict + X sentiment for $FRMI

  • One-line verdict on what's driving the move — fundamentals, momentum, both, or an event
  • Next dated catalyst when there is one (earnings, deal closing, activist clock)
  • X crowd read with bullish/bearish call + post volume
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What it does

Plain-English summary of the business — what they sell and how they make money.

Building an integrated energy production and AI data center campus designed to power next-generation compute infrastructure.

Industry overviewAI analysisGenerated by AI from underlying data

Where Regulated Electric sits in its cycle right now — and what that implies for $FRMI.

Regulated Electric · Utilities

No material change from last week — Dominion Virginia (D) is the primary data center utility, and nuclear power re-rating (CEG, Oklo's DOE clearance milestone this week) continues as the..

What this means for $FRMI

Partial — Building an integrated energy production and AI data center campus designed to power next-generation compute infrastructure; partial earnings exposure to regulated electric demand dynamics through its product portfolio.

Industry benchmark

24-name peer basket
+403.4%YTD
+4.9%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
-7.4How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
-23.9%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
0.0%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
-19.8%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
0.0Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
-109%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
0.0%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
0.4Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q1 2026May 14, 2026$-0.30$-0.03-784.2%
Q4 2025Mar 30, 2026$-0.26$-0.01-2526.8%
Q3 2025Nov 10, 2025$-0.84$-0.02-3569.7%
Next earningsThu, Aug 13·consensus EPS $-0.05

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q1 FY26$0———$-0.30$-448.5M
Q4 FY25$0———$-0.14$-498.8M
Q3 FY25$0———$-0.84$0
Q2 FY25$0———$-0.02$-45.4M

Forward consensus

5-year forecast · up to 8 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$22.5M$5.1M – $35.2M$0.06-$0.00 – $0.102
FY27$844.3M$193.4M – $1.3B$0.76-$0.00 – $1.335
FY28$2.7B$524.5M – $4.3B$3.18$0.58 – $5.788
FY29$3.5B$805.4M – $5.5B$6.05-$0.01 – $10.517
FY30$4.9B$1.1B – $7.6B$7.14-$0.02 – $12.407

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.1.3×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.4%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.-19.7%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.-44.9%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatHigh float · 603.4M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today4.3% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β2.195-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

SellJun 30Perry James RichardDirector863.6K sh$6.3MSellJun 3Mesut UzmanChief Nuclear Constr. Officer158.5K sh$1.0MSellApr 9Hamilton Charles LynnChief Site Development Officer398.1K sh$1.8MSellApr 9Ortiz Blanes JacoboCOO427.4K sh$2.0MSellApr 9Miles E. EversonCFO427.0K sh$2.0MSellApr 8Hamilton Charles LynnChief Site Development Officer375.9K sh$1.8MSellApr 8Miles E. EversonCFO403.2K sh$2.0MSellApr 8Ortiz Blanes JacoboCOO403.5K sh$2.0MSellMar 31Griffin Perry10% owner2.0M sh$11.1MSellMar 30Griffin Perry10% owner9.0M sh$45.2M
+ 7 other (7 awards) in window

See when $FRMI insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
  • Cluster-buy detection when multiple insiders pile in at once
  • 30 / 60 / 180-day windows so you can spot building conviction
Free, forever. No credit card.

SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

8-KOfficer or director changeJul 238-K — Item 5.02: Officer or director change
AI summary

FRMI filed an 8-K under Item 5.02 announcing the appointment of the following as General Counsel. Additionally, Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The filing also covers Item(s) 9.01. Personnel changes at the executive or board level are typically administrative but can signal strategic shifts depending on context.

8-K/AOfficer or director change (amended)Jul 218-K/A — Item 5.02: Officer or director change
AI summary

Fermi Inc. filed Amendment No. 1 to its July 13, 2026 8-K disclosing the resignation of director Miles Everson (effective July 10, 2026). On July 19, 2026, Fermi received a response letter from Everson, which is attached as Exhibit 17.1. The amendment's purpose is solely to furnish Everson's response letter as required by SEC rules. This is an administrative amendment to a director departure; the substance of any disagreement would be in Everson's attached response letter, not in the body excerpt provided.

8-KMaterial agreementJul 158-K — Item 1.01: Material agreement · Item 2.03: Material debt obligation · Item 3.02: Unregistered equity sale · Item 7.01: Press release / Reg FD
AI summary

Forestar Group (FRMI) closed a convertible notes offering of $431.25 million aggregate principal — comprising $375 million base plus $56.25 million overallotment exercised in full — of 5.00% convertible senior notes due July 15, 2031, on July 14, 2026. Net proceeds were approximately $416.81 million; $34.5 million was used to fund capped call transactions to reduce dilution, with the remainder for general corporate purposes. U.S. Bank Trust Company serves as trustee. The offering was conducted as a Rule 144A private placement.

8-KOfficer or director changeJul 138-K — Item 5.02: Officer or director change
AI summary

Fermi Inc. (FRMI) — 8-K (Item 5.02) reporting an officer or director change effective July 10, 2026. Body excerpt does not identify the specific executive or nature of the change. Administrative — officer/director change; refer to the full filing for the individual and role affected.

8-KPress release / Reg FDJul 98-K — Item 7.01: Press release / Reg FD · Item 8.01: Other event
AI summary

Formica Group completed the pricing of a $350 million offering of convertible senior notes due 2031 via Rule 144A private placement, with the initial purchasers exercising the full $52.5 million overallotment option, bringing total proceeds to $402.5 million. The convertible notes provide lower-coupon debt in exchange for equity dilution optionality. Proceeds are expected to be used for general corporate purposes, including potential acquisitions and working capital. The convertible structure is consistent with Formica's capital allocation strategy in a higher-rate environment.

SC 13D/AActivist amendmentJul 8SC 13D/A
AI summary

Caddis Holdings, LP and Perry Griffin (together, the Reporting Persons) filed SC 13D/A Amendment No. 2 for Fermi Inc. (FRMI), correcting a clerical error in the prior July 2, 2026 amendment regarding the number of shares sold pursuant to an Option. As corrected, the Reporting Persons jointly hold 52,256,833 shares of FRMI common stock (8.2% of class, based on 637.6M shares outstanding as of May 11, 2026). This amendment carries no new economic event — it is a data correction only, with the underlying position unchanged.

SC 13D/AActivist amendmentJul 2SC 13D/A
AI summary

Caddis Holdings, LP filed Amendment No. 1 to its Schedule 13D on June 30, 2026, reporting beneficial ownership of 52,318,073 shares (8.2%) of Fermi Inc. (FRMI) common stock with shared voting and dispositive power over all shares. The filer is a Delaware limited partnership; the source of funds is listed as working capital. The filing excerpt does not include the purpose of the transaction or any stated activist plans. This is an updated 13D filing for Caddis's 8.2% stake; investment intent and any plans are in the full filing.

SC 13DActivist position (5%+)May 15SC 13D
AI summary

A new significant holder (5%+ beneficial owner) filed an initial Schedule 13D on FRMI on May 15, 2026. Body unavailable — excerpt contains only the SEC cover-page header without the filer's name, stake percentage, or investment intent.

+ 80 other (47 DFAN14As · 10 8-Ks · 6 proxys · 4 13Gs) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

Fermi Inc. Admission of shares of Common Stock and Total Voting Rightsprnewswire.com·11d agoFermi Announces First Siemens Turbines Arrive at Port of Houstonaccessnewswire.com·13d agoFermi Announces Second Quarter 2026 Earnings Release and Call Dateaccessnewswire.com·14d agoFermi Outlines Strategic Rationale for Upsized $431 Million Convertible Notes Offeringaccessnewswire.com·19d agoNeugebauer Addresses $375mm Convertible Note Offering that Resulted in Former Fermi CFO Miles Everson's Resignation from Fermi Board; Reaffirms Confidence in Company Securing Its Tenantgurufocus.com·21d ago

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