Fermi America signs 15-year lease agreement with TensorWave for up to 650MW of data center capacity at Project Matador site in Texas

Type: Lease · Technology: Data Center · Country: United States · Capacity: 650 MW · Value: $6.5B · Announced: 2026-08-11

Data center developer Fermi America signed a binding 15-year lease agreement with AI cloud company TensorWave for up to 650MW of data center capacity at its Project Matador site in Texas. The deal includes an initial 222MW phase starting in the second half of 2027, with expansion rights for two additional facilities totaling 650MW. The lease is valued at approximately $6.5 billion over the 15-year term and will support the deployment of 'tens of thousands' of next-generation AMD Instinct GPUs for AI training and inferencing workloads. Fermi America, founded in January 2025 by former Texas governor Rick Perry and Toby Neugebauer, is developing Project Matador as a 17GW data center and energy campus near Amarillo, Texas, with planned on-site energy sources including solar, wind, natural gas, and nuclear power.

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