Fermi Inc. (NASDAQ:FRMI) is one of the stocks Jim Cramer recently discussed. Cramer called the company “more of a business plan than an actual business,” as he remarked:
“Some of my newfound cynicism with nukes comes from the tale of Fermi, this company, which is more of a business plan than an actual business, came public on October 1st at 21 bucks, raising $682 million and had a valuation of more than $19 billion at the end of its first trading day. Fermi was just a business plan, though… Their plan is to deliver 11 gigawatts of power by 2038 through something called Project Matador. This is a proposed hybrid power system with nuclear, natural gas, and solar in Amarillo, Texas.
Photo by AlphaTradeZone
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.
While we acknowledge the potential of FRMI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.