Amazon reportedly revives deal with Rick Perry-backed data center venture Fermi America

Fermi America is back at the table with Amazon after a collapsed tenant deal, a stock slide, and a governance mess Fermi America, the Texas data center venture co-founded by former Texas Governor Rick Perry, is reportedly back in talks with Amazon . The negotiations center on Project Matador, a sprawling campus that aims to generate up to 17 GW of combined on-site power. It is a notable reunion. The last time Fermi tried to lock down an anchor tenant, the deal fell apart and took a sizable chunk of the company’s market value with it. On November 12, 2026, Fermi announced a new power capacity agreement covering 600 MW. The counterparty is an undisclosed investment-grade hyperscaler, widely believed to be Amazon.

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