Fermi America has signed two more nuclear energy agreements to support the development of its planned giant data center campus in Amarillo, Texas.

The first was struck with Doosan Enerbility, a South Korean nuclear equipment firm. The deal is a follow-up on a Memorandum of Understanding (MoU) signed earlier this year.

The agreement aims to initiate the production of critical, long-lead-time nuclear equipment (reactor pressure vessels and steam generators) to support the deployment of four planned Westinghouse AP1000 nuclear reactors, which the company plans to install at the data center campus.

The second deal was struck with Hyundai Engineering & Construction (E&C), which followed an earlier MoU signed this year.

The Front-End Engineering Design (FEED) contract will see Hyundai commence engineering work on the four reactors for the data center. A complete engineering, procurement, and construction (EPC) agreement is expected to follow in early 2026.

"Doosan Enerbility and Hyundai E&C have been waiting for an American company to stop power pointing about nuclear and start building it. Their firm commitment to Fermi America positions us for action, leveraging their track record of success to build clean, new nuclear power at the velocity and scale the President demands and the US requires," said Toby Neugebauer, co-founder and CEO of Fermi America.

Fermi’s Project Matador is one of the more ambitious data center projects to be announced to date. The project is being developed in partnership with the Texas Tech University system, on whose land the data center will be sited.

If realized, the project will span 18 million sq ft (1.67 million sqm) and have a capacity of up to 11GW. To power the campus, Fermi intends to utilize a combination of on-site energy sources, including natural gas, solar, wind energy, and nuclear energy.

While nuclear is envisaged as the primary source in the long term, the company has signed several deals to acquire natural gas turbines to power the installation in the short- to medium-term.

Earlier this month, the company signed a deal with US midstream gas firm, Energy Transfer, to connect with its pipeline infrastructure located just south of the planned campus. The pipeline interconnection is slated for completion in Q1 2026.

Fermi intends to use the pipeline to power several natural gas turbines located at the site. Last month, the company signed a non-binding Letter of Intent with Siemens for up to 1.1GW of gas turbine capacity to power the site. This followed a deal in July that saw the company purchase more than 600MW of natural gas generation capacity through two separate transactions. Through this, Fermi aims to deliver at least 1.1GW of power to the site by 2026.

On the nuclear side, Fermi intends to install four Westinghouse AP1000 reactors. Each AP1000 is a Generation III+ pressurized water reactor with an output capacity of roughly 1,100–1,117MWe. Fermi is collaborating with Westinghouse to finalize a Combined Operating License Application to expedite the approval process.

While the campus remains in the very early stages of development, having yet to build anything and secure any customers, it has already mobilized significant capital.

Earlier this month, the company made its stock market debut, launching an initial public offering (IPO). The launch exceeded expectations, with shares of the company opening 19 percent higher than expected, with the data center investment trust valued at $14.8bn.

Last month, the company secured $100 million as part of a Series C equity funding round led by Macquarie Group, as well as a $250m senior loan facility, funded solely by Macquarie’s commodities and global markets business.

While the project has not been short on deal counts, it remains to be seen whether it can actually get off the ground. The first two phases of the project alone are expected to cost more than $2bn.