Fermi receives subpoena from US District Court for Project Matador documents

Fermi Inc. disclosed that it received a subpoena dated July 30, 2026, from the US District Court for the Eastern District of New York, demanding documents tied to Project Matador and records associated with former management. Just four days later, on August 3, the SEC filed its own document request covering the same territory. Fermi disclosed these developments via an SEC filing around August 14, 2026. The filing didn’t specify the full scope of either the court subpoena or the SEC request. Project Matador and the $746 million question Project Matador is the company’s plan to construct one of the largest private energy campuses in the country, targeting up to 17 GW of power capacity across roughly 8,400 acres of land leased from Texas Tech University. The energy mix would combine natural gas and nuclear power, all dedicated to feeding the electricity demands of AI data centers. Fermi went public in October 2025, raising approximately $746 million in its IPO. About 6 GW of capacity has already been permitted, and Fermi recently secured a binding lease with TensorWave, an AI cloud provider, reportedly valued at $6.5 billion. The project has been accepted into an NRC environmental rev...