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Financial Times identifies Amazon in Fermi’s preliminary 600-MW arrangements

Fermi announced agreements with an unnamed investment-grade hyperscaler to advance initial power capacity of 600 MW at Project Matador, targeting a 2027 start. The company’s announcement kept the customer’s identity confidential; the Financial Times identified it as Amazon, citing people familiar with the arrangement. The definitive long-term lease is still under negotiation. Fermi’s announced commitments include a $200 million prepayment and $15 million for early construction and site development, while a separate $90 million materials purchase agreement is still being finalized.

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