Fermi and TensorWave Agree to Extend Closing Date to October 31, 2026
Fermi's subsidiary Fermi Campus 1 LLC and TensorWave agreed to extend the closing date of their data center lease from September 30, 2026 to October 31, 2026. The lease covers 222 MW of power at Project Matador and represents approximately $6.5 billion in expected total revenue over its initial 15-year term; all other terms remain unchanged. The extension allows more time to finalize a rent guaranty with an investment-grade counterparty and satisfy remaining closing conditions including project-level financing. Either party retains the right to terminate if conditions are not met.
Key figures
- Deal Value Usd
- $6.5 billion
- Project ramp gw
- 17
- Lease term years
- 15
- New closing date
- October 31, 2026
- Facility power mw
- 222
- Prior closing date
- September 30, 2026
- Capital invested to date
- $1.5 billion
AI analysis
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