Fermi Inc. (FRMI) Highlights Progress in its Strategic Partnership with Hyundai Engineering & Construction Co., Ltd.

Jeff Lewis

Thu, February 26, 2026 at 10:41 AM GMT+9 2 min read

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Fermi Inc. (NASDAQ:FRMI) is among the 11 Newly-Listed NASDAQ Stocks to Buy Now.

Fermi Inc. (FRMI) Highlights Progress in its Strategic Partnership with Hyundai Engineering & Construction Co., Ltd.

On February 11, 2026, Fermi Inc. (NASDAQ:FRMI), operating as Fermi America, highlighted progress in its strategic partnership with Hyundai Engineering & Construction Co., Ltd. to advance large-scale nuclear construction in the United States. The companies are continuing Front-End Engineering Design work for four AP1000 units planned for Project Matador, an 11-gigawatt private energy campus outside Amarillo, Texas. Fermi America also participated in Hyundai E&C’s Large-Scale Nuclear Technology Seminar on February 10 in Dallas, which brought together U.S. construction and nuclear industry leaders to discuss execution requirements for large-scale nuclear projects and align contractors and supply chain partners.

On February 9, 2026, Citizens initiated coverage of Fermi with an Outperform rating and a $30 price target. Citizens described Fermi as a “differentiated” digital infrastructure REIT developing a campus near Amarillo that combines high-performance compute data center infrastructure with behind-the-meter power. Citizens said persistent U.S. data center capacity constraints make leasing highly probable in the coming months despite near-term volatility. On January 20, 2026, Texas Capital initiated coverage with a Buy rating and a $23 price target, noting the company is developing what it describes as the world’s largest hybrid energy and data center campus. Texas Capital said Fermi is “uniquely positioned to capitalize” on hyperscalers’ need to bypass long interconnection queues and secure reliable power, adding that the stock reflects only about 10% of projected power capacity at current valuation.

Fermi Inc. (NASDAQ:FRMI) develops electric grids designed to deliver highly redundant, gigawatt-scale power to support artificial intelligence infrastructure.

While we acknowledge the potential of FRMI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Most Profitable Undervalued Stocks to Buy and 12 Best Tech Stocks that Beat Earnings Estimates.

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