Nancy Pelosi walked so Rick Perry could run… 

Rick Perry’s (former US Secretary of Energy) side hustle just birthed a $19B company out of thin West Texas air, becoming a perfect case study of “IPO math ain’t mathin’”. In short, Fermi debuted yesterday, raising $683M and ripping nearly 55% by close. Context: the REIT was founded in January. It has no customers. It lost $6.4M in its first six months. Its only “asset” is a 99-year lease on a giant patch of Amarillo dirt from Texas Tech. And yet… it’s already worth more than American Airlines.

(Source: Giphy) 

Fermi’s big swing is “Project Matador,” a 5,000+ acre “advanced energy and intelligence campus”. And the best part? The site is literally branded the President Donald J. Trump Advanced Energy and Intelligence Campus. Bigly. As for the sales deck, by 2026, it will deliver 1.1 gigawatts of juice to hyperscaler tenants (think Musk’s xAI, OpenAI, Anthropic). Long-term goal: 11 gigawatts. Mix of nuclear, solar, and nat gas. In theory, it becomes an “AI factory park”... where the chips, GPUs, and models live right next to the reactors spinning the lights.

(Source: Bloomberg) 

Translation: Perry and friends are selling Wall Street the dream of energy-adjacent exposure to AI without actually needing to understand semiconductors. Speaking of Perry’s friends, Fermi is nine months in, and it’s literally produced three new billionaires (Toby Neugebaur, Griffin Perry, and Steven Meisel), with NO revenue. LOL Silicon Valley took years to master this kind of alchemy… and yet, Texas did it before the first shovelful of dirt got turned.

For more context, data centers are set to chew through 4% of global electricity by 2035. If they were a country, they’d rank just behind the US, China, and India. Which is why every politician with a pulse is now screaming “energy dominance.” For this reason, the Trump camp has made it clear that the AI arms race is the real Cold War. You want to beat China? Build nukes in Amarillo and slap Trump’s name on the sign. 

(Source: Giphy) 

With that said, Wall Street doesn’t care if it’s rational. CoreWeave IPO’d earlier this year, tripled, minted five billionaires, now trades at $60B. Nvidia sneezes, the grid spikes. Meaning, the market has decided that if it touches AI compute or nuclear, we don’t ask questions… we buy. As for investors, Wall Street is clearly betting “AI + power” is the only trade that matters in the next decade. Fundamentals optional. And Fermi is the latest reminder of it.

In the end, if you haven’t gotten the hint yet… you better start paying attention. This isn’t the stock market anymore, it’s a casino where AI is the house. And right now, the house is letting anyone with land, turbines, and a Trump endorsement print money. Place your bets accordingly, friends. Until next time…

At the time of publishing, Stocks.News does not hold positions in companies mentioned in the article.