Fermi Energy’s $682 Million IPO Fuels AI-Driven Energy Boom
Former Texas Governor Rick Perry Leads Record-Setting Launch
Former U.S. Energy Secretary and Texas Gov. Rick Perry helped launch one of the most successful energy IPOs of 2025. His company, Fermi Energy, raised more than $682 million in its public offering, marking a major milestone in the intersection of renewable energy and artificial intelligence.
Fermi’s stock opened strong on the Nasdaq last week, soaring 54% above its IPO price of $21 per share. Shares closed at $32.53, reflecting surging investor interest in AI-powered energy infrastructure.
“It speaks to the gold rush happening in AI infrastructure right now. It’s a cash geyser,” said Matt Kennedy, senior strategist at Renaissance Capital.
Solar, Wind, and Nuclear Power Drive Fermi’s Vision
Fermi Energy plans to build a multi-billion-dollar data center near Amarillo, Texas, powered by solar, wind, and nuclear energy. The company aims to create a self-sustaining network of clean-energy data hubs capable of supporting the next wave of AI-driven innovation.
The IPO’s success instantly created three new billionaires, according to Forbes.
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Toby Neugebauer, Fermi’s president and CEO, now holds a 28% stake worth about $6 billion, largely through family trusts.
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Griffin Perry, son of Rick Perry, owns 11% of the company, valued at $2.3 billion.
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Steven Meisel, investor and founder of Pencross Energy, is now worth an estimated $1.8 billion.
Rick Perry’s own stake is reportedly valued at $540 million—a testament to the energy veteran’s enduring influence in both politics and innovation.
AI and Energy Markets Converge
Investors view Fermi’s success as part of a larger shift toward renewable, AI-integrated power infrastructure. Analysts say it’s proof that energy markets are adapting to support data-intensive industries that require stable, sustainable electricity sources.
As the world races to expand energy capacity for artificial intelligence, Perry’s company positions itself at the crossroads of technology and clean power—a space increasingly critical for both investors and policymakers.