Published: October 2, 2025 at 8:36 am
Texas-based Fermi America has completed a $13.8 billion (£10.2bn) dual listing on the London Stock Exchange and Nasdaq – the first simultaneous listing this century and one of the biggest in LSE history.
The offering, which includes a $682.5 million (£505.6m) equity fundraising, has been hailed as a sign of growing momentum in London’s capital markets after a period of uncertainty, with major businesses such as Indivior, Hargreaves Lansdown, Deliveroo and Wise all delisting.
It is a major milestone for the company which was only founded in January 2025.
Former US Energy Secretary Rick Perry and CEO Toby Neugebauer co-founded the business which is aiming to transform AI infrastructure by building the power systems to fuel its future.
Its flagship Project Matador in Amarillo, Texas, spans 5,236 acres and is designed to deliver up to 11 gigawatts of low-carbon power through its HyperGrid energy infrastructure.