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Oct 2, 2025 4:00 AM

Rick Perry-Backed Fermi Stock Surges 9% After Hours After Making Nasdaq Debut: What You Should Know

Fermi Ord Shs (NASDAQ:FRMI) are trending on Thursday.

Check out the current price of FRMI stock here. 

FRMI jumped 9.14% to $35.50 in after-hours trading on Wednesday following its Nasdaq debut and opening bell ceremony.

Nasdaq Debut Exceeds IPO Price

The data center real estate investment trust (REIT) debuted at $25 on Wednesday, marking a 19% increase from its $21 initial public offering (IPO) price, and giving the company a valuation of $14.8 billion, according to Reuters.

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The Amarillo, Texas-based company sold 32.5 million shares at $21 each in an expanded offering, after initially pricing them between $18 and $22.

Development-Stage Company Draws Investor Interest

Founded in January 2025, Fermi achieved a $12.5 billion IPO valuation just months after issuing convertible bonds ...