U.S. stocks traded higher midday Wednesday with semiconductor equipment names and small caps leading gains ahead of Fed Chair Kevin Warsh's first interest-rate decision. The Russell 2000 jumped 1.2% to a record high. Applied Materials surged 7% after Citi raised its price target, while Robinhood rallied 12.2% on strong trading volumes. Exchange operators fell sharply after Kalshi's Bitcoin futures approval raised competitive concerns.

Fermi Inc. (NASDAQ:FRMI) shares surged 22.6% on Wednesday following a proxy campaign launched by co-founder and former CEO Toby Neugebauer seeking board changes and a strategic review. Neugebauer is pushing for a special shareholder meeting to expand the board, elect new directors, and evaluate strategic alternatives including potential sale, merger, or partnership. The campaign highlights Project Matador, Fermi's AI power and data-center infrastructure platform in Texas, which Neugebauer argues may be undervalued by public markets.

Fermi (FRMI), a newly public AI power and infrastructure company, saw its stock plunge 19% after announcing major leadership changes including the departure of its CEO and CFO. The company is relocating its headquarters to Dallas and transitioning to a new management structure. Despite ambitious plans for its Project Matador (11 GW of power capacity), the company has yet to secure a long-term tenant beyond a partnership with Texas Tech University, raising concerns about execution and professional management.

U.S. equity markets rebounded from seven-month lows on Monday as President Trump disclosed negotiations with Iran and Fed Chair Powell downplayed imminent rate hikes, calling tariffs a 'one-time price bump.' Treasury yields fell significantly, boosting financial, materials, and real estate sectors. Major indices gained broadly, with the S&P 500 up 0.7%, Dow up 1.1%, and Nasdaq 100 up 0.5%.

Pomerantz Law Firm has filed class action lawsuits against Fermi Inc., PayPal Holdings, and Kyndryl Holdings, alleging securities fraud and unlawful business practices. The Fermi lawsuit stems from a major tenant terminating a $150 million construction agreement for its Project Matador data center, causing significant share price decline since the October 2025 IPO. Investors have until March 6, 2026 to request Lead Plaintiff status.

A class action lawsuit has been filed against Fermi, Inc. in the U.S. District Court for the Southern District of New York, alleging the company made materially false statements about tenant demand for its Project Matador campus and overstated the reliability of a key tenant's funding commitment. Investors who purchased Fermi securities between October 1, 2025 and December 11, 2025 can apply to be lead plaintiff by March 6, 2026.

Law firm Levi & Korsinsky notifies Fermi Inc. investors of a class action securities lawsuit alleging the company made false statements about tenant demand for its Project Matador campus and concealed risks of a key tenant terminating its funding commitment. The lead plaintiff deadline is March 6, 2026.

The Law Offices of Frank R. Cruz has announced class action lawsuits against four publicly-traded companies for allegedly making materially false and misleading statements to investors. Agilon Health is accused of issuing unachievable 2025 guidance; Fermi Inc. of overstating tenant demand for Project Matador; Varonis Systems of failing to disclose growth trajectory challenges; and Ardent Health of misrepresenting accounts receivable practices and insurance coverage. Lead plaintiff deadlines range from March 2-9, 2026.

A class action lawsuit has been filed against Fermi Inc. (NASDAQ: FRMI) alleging that the company made materially false and misleading statements regarding tenant demand for its Project Matador campus and overstated its financial prospects. The lawsuit covers investors who purchased Fermi securities during its October 2025 IPO through December 11, 2025. The lead plaintiff deadline is March 6, 2026.

A class action lawsuit has been filed against Fermi Inc. (NASDAQ: FRMI) for alleged securities fraud involving misrepresentations about tenant demand and funding for its Project Matador nuclear-powered data center. The company's stock plummeted 33% on December 12, 2025, after the First Tenant terminated a $150 million funding agreement. Investors have until March 6, 2026, to request lead plaintiff status in the case filed in the U.S. District Court for the Southern District of New York.

Fermi Inc. (NASDAQ: FRMI) faces a securities class action lawsuit alleging the company misrepresented demand for its Project Matador AI data center and concealed risks related to its primary tenant. The first tenant terminated a $150 million funding agreement on December 12, 2025, causing Fermi's stock to plummet 34% in a single day and 59% from its $21 IPO price. The lead plaintiff deadline is March 6, 2026.

A class action lawsuit has been filed against Fermi Inc. (NASDAQ: FRMI) alleging securities fraud. The complaint claims the company made materially false statements about tenant demand for its Project Matador campus and overstated its financial viability by concealing reliance on a single tenant's funding commitment and the risk of that commitment being terminated. Investors who purchased Fermi securities during the IPO in October 2025 or between October 1-December 11, 2025, are eligible to join the case.