Fermi TensorWave lease misses October 31 closing deadline

Fermi said its data centre lease with TensorWave did not close by its October 31 deadline, and neither company has exercised its termination rights under the agreement.

Why it matters: TensorWave is Fermi's only public customer and the anchor tenant for the first 222MW at Project Matador, the lease AMD agreed in October to support with credit, so a failure to close would leave the Texas campus without a signed first tenant.

Data as of Datacenter Dynamics report of November 3, 2026, read in full in this run, quoting Fermi chief executive Lee McIntire. Single-source reporting, flagged as such. Developing item.

Fermi has said that its data centre lease with the AMD based neocloud TensorWave did not close by its October 31 deadline, and that neither party has exercised termination rights under the lease agreement. Chief executive Lee McIntire said both companies remain committed to the lease and are working through the remaining conditions before close, and that Fermi expects to give more information on its earnings call next week, or sooner if appropriate.

The lease, announced in August, covers 222MW of capacity from the second half of 2027 at Project Matador near Amarillo, Texas, with expansion rights for two further data centres taking the total to 650MW. Datacenter Dynamics notes that Fermi has no other public customers.

Fermi TensorWave lease misses October 31 closing deadline

Sources