secwatch.observer — SEC 8-K summary
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Issuer:     Fermi Inc. (FRMI)
CIK:        0002071778
Form:       8-K
Filed at:   2026-03-30T23:59:59+00:00
Accession:  0002071778-26-000007
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2071778/000207177826000007/0002071778-26-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2071778/000207177826000007/frmi-20260330.htm
  HTML page:      https://secwatch.observer/filing/0002071778-26-000007

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