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Rick Perry's data center REIT Fermi targets $13 billion valuation in US IPO

(Reuters) -Fermi, co-founded by former U.S. Energy Secretary Rick Perry, is targeting a 13.16billionvaluationinitsU.S.initialpublicoffering,itsaidonWednesday,astheAIboomfuelsspendingondatacenters.TheAmarillo,Texasbaseddatacenterbuilderplanstoraiseupto13.16 billion valuation in its U.S. initial public offering, it said on Wednesday, as the AI boom fuels spending on data centers. The Amarillo, Texas-based data center builder plans to raise up to 550 million by offering 25 million shares priced between 18and18 and 22 apiece. Data centers have become highly sought after as technology companies race to develop cutting-edge artificial intelligence models, which relies he ...