Fermi's Losses Spark Institutional Shift Amid Competitive Edge Story

Fermi Inc. reported a net loss of $346.81 million in Q3, leading to increased institutional interest through large options trades and revised analyst ratings. Despite this, the company's investment narrative is shifting, with near-term solvency, cash burn rate, and execution risk becoming more prominent concerns. The quarterly loss is now a central risk, while the launch of new revenue-generating projects remains the crucial catalyst for investors.