# Fermi CEO Outlines Staged Funding Plan for Project Matador By John Kim Canonical URL: https://www.tokenpost.com/news/business/37273 Published: 2026-10-22T01:20:05.000Z Updated: 2026-10-22T01:20:05.000Z Section: Business > The near-term approach includes powered-land deals, earlier customer contributions, project-level debt and strategic investment partners. Fermi CEO Lee McIntire outlined a multi-stage financing approach for Project Matador on Oct. 21, with an immediate focus on managing the company’s equity needs as it develops power capacity for large-scale computing. Fermi plans to pursue powered-land deals for capacity remaining in 2027 and development planned for 2028. It also aims to secure customer contributions earlier, arrange project-level debt and bring in strategic investment partners. Its first priority is to manage the amount of Fermi equity required for each megawatt of capacity delivered. “We are prioritizing powered land deals for our remaining 2027 capacity and planned 2028 development,” McIntire wrote. For the medium term, Fermi is cultivating relationships with institutional infrastructure investors and financial partners. The goal is to find partners capable of financing development at scale and providing financing and capital commitments across multiple phases of Project Matador. Over the longer term, Fermi wants operating cash flows from projects as they become operational to help pay for later development. The Oct. 21 letter gave no financing amount or deal terms and named no lender or investor as committed to the approach. The company plans to report financing progress and capital commitments as it reaches milestones. FRMI was quoted at $3.01 per share at 9:29:30 a.m. ET (13:29:30 UTC) on Oct. 21, compared with a previous close of $2.94. At 1:25 p.m. ET (17:25 UTC), it was quoted at $2.86 per share. Fermi is a developer of private electric grids for large-scale computing. Project Matador is designed to support next-generation computing. The company previously announced an [AMD credit-support agreement covering the project's Phase 1 lease](). ## Links in this article - [AMD credit-support agreement covering the project's Phase 1 lease](https://www.tokenpost.com/news/business/31150)