Foley Advises TensorWave in $6.5 Billion AI Data Center Lease with Fermi America
Foley & Lardner LLP represented TensorWave Inc., the AI cloud provider built for high-performance workloads, in connection with its binding customer lease with Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI) for a turnkey data center facility at Fermi America’s Project Matador campus in Carson County, Texas.
The first phase of the lease covers a facility supported by 222 MW of total facility power and is expected to generate approximately $6.5 billion in total contracted revenue over the initial 15-year term. Once fully delivered, the facility is being designed to support tens of thousands of next-generation AMD Instinct™ GPUs for large-scale AI training and inference.
The agreement also includes expansion rights for two additional data centers that, if exercised, would bring the partnership to more than 650 MW. Phased delivery for the first facility is expected to begin in the second half of 2027.
Foley’s Data Centers & Digital Infrastructure team was led by partner Daniel Farris.
