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BTCC / BTCC Square / Global Cryptocurrency /
Amazon Withdraws from $20B Fermi AI Data Center Deal Amid Demand Concerns

Amazon Withdraws from $20B Fermi AI Data Center Deal Amid Demand Concerns

Author:
Global Cryptocurrency
Published:
2025-12-18 06:50:02
25
3
BTCCSquare news:

Amazon has backed out of negotiations to anchor Fermi Inc.'s ambitious AI data center project, a $19 billion venture aiming to create the world's largest private power grid. The e-commerce giant withdrew its commitment to provide a $150 million upfront payment for Project Matador, which WOULD have secured over $20 billion in long-term revenue for Fermi.

Fermi CEO Toby Neugebauer maintains discussions remain constructive despite the setback. The Texas-based developer went public in September at $21/share, raising $680 million, but now faces mounting skepticism about AI infrastructure overcapacity. Project Matador's viability hinges on securing an anchor tenant for its 11-gigawatt Texas Panhandle campus.

The withdrawal highlights growing market apprehension about hyperscale data center projects. AI-related stocks have softened as investors question whether power infrastructure expansion is outpacing actual demand. Fermi's 99-year ground lease with Texas Tech University remains contingent on finalizing a tenant agreement.

|Square

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