Amazon revives deal with troubled data centre venture backed by Rick Perry

Amazon has revived a deal with Fermi Energy, the troubled data centre venture backed by former Texas governor Rick Perry, according to coverage from the Financial Times. The Financial Times reports that Amazon is named as Fermi’s 600 MW customer for Project Matador, a Texas development. Crypto Briefing confirms Amazon is named as Fermi’s 600 MW customer for Project Matador. Mugglehead Investment Magazine reports Fermi signed a US$200 million prepayment agreement for the 600 MW Texas development. Moomoo market chatter describes Amazon striking a 600-megawatt computing power deal with Fermi. Data Center Dynamics reports Fermi agreed a 600 MW power deal with a hyperscaler, but that the TensorWave lease is officially dead. Yahoo Finance reports Fermi announced new agreements with an investment-grade hyperscaler alongside third quarter 2026 financial results. Barron’s frames Fermi’s new AI deal as softening the blow of a $6.5 billion setback.

Coverage emphasizes the scale of the arrangement and its timing amid Fermi’s financial distress. The Financial Times leads with the revival of the deal and Perry’s backing. Mugglehead Investment Magazine specifies the US$200 million prepayment. Data Center Dynamics explicitly identifies the hyperscaler context while noting the TensorWave lease is officially dead. Barron’s quantifies the setback at $6.5 billion and characterizes the new AI deal as softening that blow. Yahoo Finance ties the new agreements to Fermi’s third quarter 2026 financial results.

The background a reader needs is that Fermi Energy is a data centre venture associated with Rick Perry, and it has suffered a major collapse involving TensorWave, with Barron’s citing a $6.5 billion setback and Data Center Dynamics stating the TensorWave lease is officially dead. The revived Amazon arrangement centres on Project Matador, a 600 MW Texas development, with Mugglehead Investment Magazine noting a US$200 million prepayment agreement. Coverage does not yet specify the full financial terms beyond the prepayment figure, the exact location within Texas, or the precise structure of the hyperscaler agreement identified by Yahoo Finance as investment-grade.

What to watch next depends on stated facts only. Fermi’s third quarter 2026 financial results, mentioned by Yahoo Finance, may disclose more about the Amazon relationship and the TensorWave fallout. The status of Project Matador’s 600 MW Texas development and the US$200 million prepayment will indicate whether construction or power delivery moves forward. Whether any further hyperscaler agreements emerge beyond the one identified by Yahoo Finance remains to be seen, and coverage does not yet specify a timeline for Project Matador completion or power delivery.