NewsNTech
Fermi secured a credit support agreement from AMD, sending its stock 14% higher.
The company closed at $3.72, up 14.46%, after the premarket deal provided financial backing for Phase 1 of Project Matador, an energy and AI buildout project.
The stock’s sharp rise occurred against a backdrop of modest declines in broader market indices. The S&P 500 closed at 7,805, down 0.02%, while the Nasdaq Composite ended the session at 27,204, down 0.15%.
Trading volume for Fermi reached 86.0M shares, coming in about 352% above its three-month average of 19.0M shares.
Keep reading