Fermi Inc. (NASDAQ:FRMI) is one of the stocks Jim Cramer talked about. Cramer showed surprise at the market giving the company a huge valuation, as he said:
“Let’s not forget Fermi, which came public at the beginning of October on the heels of the most speculative AI-related trading of the year. Fermi’s more of a business plan than a business. They plan to build a massive data center in Texas, along with their own power generation, including, of course, something that everybody loves, a nuclear reactor eventually. Neat plan, but I almost lost my mind when the market bestowed this thing a $19 billion valuation right out of the gate. Like I said at the time, no business plan is worth $19 billion. Fermi was at $32 back then. Now, it’s at under 10 bucks. I hope you dodged that bullet.”
Photo by Robb Miller on Unsplash
Fermi Inc. (NASDAQ:FRMI) is developing large-scale next-generation electric grids designed to power advanced artificial intelligence. The company’s planned campus will integrate nuclear, natural gas, solar, battery storage, and utility power to deliver highly redundant gigawatt-scale energy.
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Disclosure: None. This article is originally published at Insider Monkey.
