---
schema_version: "secwatch.filing_event.v1"
accession: "0002071778-26-000007"
form_type: "8-K"
ticker: "FRMI"
cik: "0002071778"
company_name: "Fermi Inc."
filed_at: "2026-03-30T23:59:59+00:00"
generated_at: "2026-05-15T08:28:37.599434+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fermi Inc. FY 2025 net loss $486M; raised $1.8B, secured 6 GW permit

## Summary
- Net loss of $486.4M ($1.13 per share) driven by $441.8M non-cash charges including $173.8M charitable contribution and $132.7M stock comp.
- Raised ~$1.8B capital (IPO $785M, equipment financings $885M); $935M invested in property, plant & equipment.
- TCEQ preliminarily approved ~6 GW Clean Air Permit for natural gas generation; filed for additional 5 GW.
- NRC accepted first new nuclear Combined License Application in 15 years for four AP1000 reactors.
- Tenant LOI remains in place after $150M AIAC termination; active discussions with multiple hyperscale tenants.

## SEC filing metadata
- accession: 0002071778-26-000007
- form_type: 8-K
- ticker: FRMI
- cik: 0002071778
- company_name: Fermi Inc.
- filed_at: 2026-03-30T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2071778/000207177826000007/0002071778-26-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2071778/000207177826000007/frmi-20260330.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002071778-26-000007
- JSON: https://secwatch.observer/filing/0002071778-26-000007.json
- Plain text: https://secwatch.observer/filing/0002071778-26-000007.txt

## Key facts
- Earnings Releases
  Fermi Inc. reported financial results for the period from January 10, 2025 (Inception) through December 31, 2025.
  - Period: the period from January 10, 2025 (Inception) through December 31, 2025
  - Result: reported results
  source text: On March 30, 2026, Fermi Inc. (the “Company”) issued its shareholder letter (the “Shareholder Letter”) announcing its financial results for the period from January 10, 2025 (Inception) through December 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2071778/000207177826000007/0002071778-26-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.