· Related development
Texas Tech lease amended: site reduced to 4,523 acres plus a 713-acre federal tract
Fermi and the Texas Tech University System executed a first amendment to the ground lease that reduced the site from about 5,769 to about 4,523 acres, acknowledged a 713-acre tract to be added on transfer from a federal agency to the System, and made the System the sole landlord. Fermi says lease commencement for the 4,523 acres occurred in September 2025; the 713-acre tract had not commenced as of June 30, 2026.[1][2]
Texas Tech University SystemFermi America (Fermi, Inc.)
What the sources say
- ✓ Verified
Fermi Inc. (SEC filing): Fermi's 10-K says the August 11, 2025 first amendment memorialized the satisfaction or waiver of certain lease conditions, reduced the site from about 5,769 to about 4,523 acres, acknowledged a 713-acre tract to be added upon transfer from a federal agency to the Texas Tech University System, and designated the System as sole landlord. Lease commencement for the 4,523 acres was triggered in September 2025 after a term sheet with a first tenant; the 713-acre tract had not commenced as of June 30, 2026.[1][2]
- Acres before
- 5,769
- Acres after
- 4,523
- Pending federal tract acres
- 713
- ✓ Verified
Fermi Inc. (SEC filing): Fermi reported total lease-related payments to the Texas Tech University System before commencement of about $1.75 million, of which about $1.51 million was applied to the 4,523-acre portion and about $238,000 to the 713-acre parcel.[1]
- Precommencement payments
- $1,750,000
- Applied main site
- $1,512,000
- Applied 713 acre
- $238,000
- ✓ Verified
Fermi Inc. (SEC filing): Fermi's 2026 filings describe the Project Matador site as about 5,236 acres held or to be held under the Texas Tech lease (4,523 acres plus the 713-acre tract), and an expanded campus of about 7,570 acres (10-K) or about 8,400 acres (June 30, 2026 10-Q) including land acquired, under contract or under option.[1][2]
- Ttus site acres
- 5,236