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Fermi America, founded by former US Energy Secretary Rick Perry, has filed for an initial public offering (IPO) to fund its ambitious Project Matador, a massive data center complex near Amarillo, Texas. The project aims to integrate nuclear, natural gas, and solar power, with an estimated cost exceeding $50 billion.

The firm is in the pre-approval process with the Department of Energy and is negotiating with potential customers for power and fuel supply. However, experts express skepticism regarding the feasibility of Fermi's ambitious goals, particularly reaching its target of 11 GW of power by 2038.