Data center campus
Fermi America HyperGrid (Project Matador)
Fermi America HyperGrid is an announced AI data center campus. 11 GW of capacity has been announced; none is energized yet. The gap is what this page tracks: what is claimed versus what is actually built, each figure dated and sourced.
Under construction · Private land · SPP · Amarillo, Texas, United States
Capacity: announced vs energized
Announced-to-energized gap: 11 GW. Every figure below is a single dated, sourced claim. Current best per series resolves by evidence tier, then date. See the methodology.
| Source | ||||
|---|---|---|---|---|
| Announced | 11 GW | 2025-06-26 | claimed | press release |
| Energized | 0 GW | 2026-08-17 | reported | journalist report |
| Under construction | 2.30 GW | 2026-01-01 | claimed | press release |
The deal
- developer
- Fermi America (Fermi Inc) · Developer/owner; co-founded by former US Energy Secretary Rick Perry. Publicly traded on Nasdaq.
- developer
- Texas Tech University System · Partner in the HyperGrid campus.
- financier
- Keystone National Group / Cape Commercial Finance · $200M equipment financing facility.
- grid operator
- SPP · Amarillo/Texas Panhandle sits in SPP territory; however the campus is designed behind-the-meter on a private grid, cutting out utilities.
Power
- Power source
- mixed
- Grid operator
- SPP
- Interconnection
Advanced nuclear reactors (four ~1 GW units), 4 GW nuclear, Permitted. NRC reviewing applications for four 1-GW reactors per external reporting; unbuilt. Largest nuclear component of the campus.
Combined-cycle natural gas plant, gas, Under construction. Described as the nation's biggest combined-cycle gas project; anchors near-term power (first 1 GW by late 2026).
Solar + battery energy storage (BESS), solar storage, Announced. Solar, wind and BESS integrated into behind-the-meter HyperGrid; capacities not itemized.
Financial structure
- Keystone/Cape equipment facility
- up to $200M. Equipment financing facility from Keystone National Group and Cape Commercial Finance to accelerate first 2.3 GW press release
- Site buildout invested to date
- $1.4B press release
- Nasdaq IPO proceeds
- $683M sec filing
Sources
- TTU System and Fermi America Announce the World's Largest Advanced Energy and Intelligence Campus · Texas Tech University System
- Fermi makes stock market debut, valued at almost $15bn · DataCenterDynamics
- Fermi America Makes Initial Draw on $200M Equipment Facility to Accelerate First 2.3GW of Project Matador's 11GW HyperGrid · PR Newswire / Fermi America
- Fermi Inc. Form 8-K FY2026 exhibit · SEC EDGAR
10010870-fc71-428e-b78e-66f972d37c33 · Tracked with DEPLOY's verified-vs-claimed methodology. Announced numbers are claims, not built capacity.