BUZZ — Fermi rallies after AMD support agreement, partnership announced

* Shares of data center REIT Fermi rally 20% to $3.90 on Tues, bouncing off a record low hit in previous session, after signing credit support agreement with Advanced Micro Devices for its Project Matador energy and AI infrastructure buildout in Texas * FRMI early Tues said it's partnering with the chipmaker to help support phase one of the project with 222 MW of gross power capacity. FRMI said that "the agreement represents a key milestone toward securing project financing" * Both firms also inked an agreement outlining a framework for future expansion of up to 650 MW of gross power capacity * On Aug 10, FRMI said it expected to generate about $6.5 bln in total contracted revenue from the initial 15-year term of its first phase lease agreement with AI cloud provider TensorWave * Despite the move, FRMI stock has shed ~51% YTD. Co went public in Sept 2025 IPO priced at $21 * 8 of 10 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT of $13.50 unchanged from a month ago but down from $17.50 on Jul 13, per LSEG data (Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380)