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flag Fermi Inc. canceled a $150M construction deal, spiking stock losses and triggering securities probes.

flag On December 12, 2025, Fermi Inc. (FRMI) announced the cancellation of a $150 million construction funding agreement with the first tenant for its Project Matador AI campus, causing its stock to plummet over 33% in a single day and fall more than 50% from its IPO price. flag The news triggered investigations by multiple law firms, including the Law Offices of Frank R. Cruz, Lifshitz Law PLLC, and Glancy Prongay & Murray LLP, into potential securities law violations, alleging that Fermi may have made misleading statements or failed to disclose material risks. flag The company stated it remains confident in its power delivery timeline despite the setback. flag Investors who bought shares after the October 1 IPO and suffered losses may be eligible to pursue claims.

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