Fermi shares rise 10.03% intraday after non-binding MOU with hybrid cooling partner for Texas project.

Fermi surged 10.03% intraday following the announcement of a non-binding memorandum of understanding (MOU) with hybrid cooling specialist MVM EGI Zrt. to develop advanced water-saving cooling technology for its 11-gigawatt private energy campus in West Texas. While the Simply Wall St DCF model estimates the stock is overvalued at $14.66 versus a fair value of $5.67, the partnership highlights progress in infrastructure development for Fermi’s energy projects, signaling long-term growth potential. Despite recent sharp declines in share price, the MOU may have spurred optimism among investors about the company’s ability to advance its capital-intensive projects, offsetting concerns over valuation discrepancies. Other news events, including general market updates and unrelated developments, did not directly influence the stock’s intraday movement.