{"schema_version":"secwatch.filing_event.v1","accession":"0002071778-26-000027","form_type":"8-K","ticker":"FRMI","cik":"0002071778","company_name":"Fermi Inc.","filed_at":"2026-05-14T10:34:18+00:00","discovered_at":"2026-05-14T10:35:00.319507+00:00","generated_at":"2026-05-14T10:36:16.579237+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Fermi reports Q1 net loss of $189M; secures 2 GW power, $785M financing","bullets":["Net loss of $189M ($0.30 diluted EPS) primarily from $134M share-based comp and $25M extinguishment loss.","Total cash and restricted cash of $243M; gross PP&E reaches ~$1.4B after $441M capex.","Secured over 2 GW of power generation; obtained ~6 GW TCEQ permit; filed for additional ~5 GW.","Closed $785M in equipment financing; $421M total debt; fully repaid Macquarie Term Loan.","Board expanded to 7 directors; Heidrick & Struggles engaged for CEO search; Robert Masson named Interim CFO."],"urls":{"canonical":"https://secwatch.observer/filing/0002071778-26-000027","json":"https://secwatch.observer/filing/0002071778-26-000027.json","markdown":"https://secwatch.observer/filing/0002071778-26-000027.md","text":"https://secwatch.observer/filing/0002071778-26-000027.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2071778/000207177826000027/0002071778-26-000027-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2071778/000207177826000027/frmi-20260514.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-14T10:36:16.579237+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}