Project Matador AI Power Campus

under construction

Fermi Inc. is developing Project Matador, a private power and AI infrastructure campus in the Texas Panhandle designed for up to 11 GW of generation capacity, expandable to approximately 17 GW with additional land and permits. The campus will co-locate natural gas, future nuclear, battery storage, and solar displacement resources with up to roughly 15 million square feet of AI-ready powered shells, targeting hyperscale and other compute-intensive tenants. The project includes a 99-year ground lease, a REIT-based lease model with tenant payments largely as power-linked rent, and secured permits and equipment for phased power ramp-up.