Compute Institute
Ratings for the physical buildout of AI
Fermi America Project Matador HyperGrid

Fermi America Project Matador HyperGrid

Construction
Confirmed

Jurisdiction: US — Texas (ERCOT)

~5,800-acre campus on Texas Tech University System land adjacent to the Pantex plant, east of Amarillo, TX; coordinates approximate to Pantex vicinity

Capacity
11,000 MW basis: unspecified
GPUs (est.)
Capex
Announced
Target operational

Delivery health score

80 /100
80/100

Methodology prs-v0.1 · computed · trigger: manual

Schedule

95 /100
95/100

Regulatory

82 /100
82/100

Infrastructure

70 /100
70/100

Capital

70 /100
70/100

Why this score — factor breakdown

Each factor below contributed to the current score. Contributions are rubric weights from methodology prs-v0.1; every factor cites the record it is derived from.

Dimension
Factor
Contribution
Cites
Narrative
Capital capital commitment +15.9 Undisclosed equipment financing providers (lender) lender role committed $885,000,000 (capex undisclosed — coverage unverifiable).
Capital capital commitment +14.1 Public market investors (Nasdaq & LSE IPO) (investor) investor role committed $785,000,000 (capex undisclosed — coverage unverifiable).
Infrastructure baseline 70 Fermi America Project Matador HyperGrid No-adverse-evidence infrastructure baseline (disclosed config, scoring.prs.baselines).
Capital baseline 40 Fermi America Project Matador HyperGrid Capital base before committed-capital evidence (announcement-only anchor region, §B.2.4).
Regulatory baseline 70 Fermi America Project Matador HyperGrid No-adverse-evidence regulatory baseline (disclosed config, scoring.prs.baselines).
Regulatory permit granted +6 Utility Approval Permitting milestone "Utility Approval" achieved on 2025-11-01.
Regulatory permit granted +6 Utility Approval Permitting milestone "Utility Approval" achieved on 2026-02-25.
Schedule baseline 80 Fermi America Project Matador HyperGrid No-adverse-evidence schedule baseline (disclosed config, scoring.prs.baselines).
Schedule milestone achieved +5 Announcement Milestone "Announcement" achieved on/ahead of its first announced date (2025-06-30).
Schedule milestone achieved +5 Utility Approval Milestone "Utility Approval" achieved on/ahead of its first announced date (2025-11-01).
Schedule milestone achieved +5 Utility Approval Milestone "Utility Approval" achieved on/ahead of its first announced date (2026-02-25).

Milestones

  1. Announcement

    Achieved

    Announcement · Actual:

  2. Utility Approval

    Achieved

    Utility approval · Actual:

  3. Utility Approval

    Achieved

    Utility approval · Actual:

  4. Energization

    Expected
    1 revision

    Energization · Expected:

  5. Groundbreaking

    Expected
    1 revision

    Groundbreaking · Expected:

  6. Commissioning

    Expected
    1 revision

    Commissioning · Expected:

Constraint observations

No active constraint observations recorded against this project.

Entities & roles

Entity
Role
Ownership
Committed capital
Fermi America (Fermi Inc.)
Developer
Fermi America (Fermi Inc.)
Owner
Texas Tech University System
Investor
Public market investors (Nasdaq & LSE IPO)
Investor
$0.8B
Undisclosed equipment financing providers
Lender
$0.9B
Siemens Energy
Equipment Supplier

Sources & citations

Every substantive field on this record is backed by a canonical claim from a cited source document, graded on the E1 (strongest) – E5 (weakest) evidence ladder.

  1. ANS Nuclear Newswire · backs: expected date

    https://www.ans.org/news/article-7875/project-matador-joins-eis-pilot-program-nrc-seeks-public-input/

  2. Fermi America · backs: actual date, capacity mw

    https://fermiamerica.com/fermi-americatm-and-the-state-of-texas-announce-preliminary-approval-for-first-6-gw-of-one-of-the-worlds-largest-clean-natural-gas-facilities-on-project-matadors-11-gw-private-hypergridtm-campus/

  3. PR Newswire · backs: status

    https://www.prnewswire.com/news-releases/fermi-america-makes-initial-draw-on-200-million-equipment-facility-from-keystone-national-group-and-cape-commercial-finance-to-accelerate-the-delivery-of-the-first-2-3gw-of-project-matadors-11gw-private-hypergrid-campus-302693111.html

  4. Amarillo Tribune · Nov 5, 2025 · backs: actual date, expected date

    https://amarillotribune.org/2025/11/05/just-facts-fermi-america-and-project-matador/

  5. NewsChannel10 · Feb 25, 2026 · backs: actual date

    https://www.newschannel10.com/2026/02/25/fermi-america-receives-nations-second-largest-clean-air-permit-project-matador/

Signals

Recent ingested source documents linked to this project via extracted claims or triage mentions, newest first.

  1. · PR Newswire · relevance 0.70

  2. · Amarillo Tribune · relevance 0.70

  3. · www.sec.gov · relevance 0.00

  4. Fermi America · relevance 0.70

  5. PR Newswire · relevance 0.70