Fermi reported a Q3 net loss of $141.6 million, wider than expected. The data-center developer announced a $200 million upfront funding deal with an unnamed AI customer for 600 MW at its Texas campus. The customer has not yet signed a long-term lease. Separately, a $6.5 billion lease with TensorWave was terminated. Co-founder Toby Neugebauer is calling for a sale of the company.
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