Stock Market Today, March 30: Fermi Shares Plunge After Wider Loss and No Tenant for Flagship AI Project

By Howard Smith – Mar 30, 2026 at 5:45PM ESTExpandNASDAQ: FRMIFermiToday's Change(-13.27%) $-0.82Current Price$5.36Key Data PointsMarket Cap$3.8BDay's Range$4.63 - $5.6352wk Range$4.63 - $36.99Volume46MAvg Vol7.3MFermi (FRMI 13.27%), developer of energy infrastructure for AI data centers, closed Monday at $5.36, down 13.27%. The stock moved lower after wider-than-expected inaugural losses, a lack of tenant progress for its flagship AI project, and continued focus on when it might secure long-term anchor customers.Trading volume reached 45.7 million shares, coming in about 480% above its three-month average of 7.9 million shares. Fermi IPO'd in 2025 and has fallen 84% since going public.How the markets moved todayThe S&P 500 (^GSPC 0.39%) slipped 0.39% to finish Monday at 6,344, while the Nasdaq Composite (^IXIC 0.73%) fell 0.73% to close at 20,795. Within data center REITs, industry peers Equinix (EQIX +0.14%) closed at $964.05 (+0.11%) and Digital Realty Trust (DLR 0.06%) ended at $175.2 (-0.13%), showing more muted moves than Fermi.What this means for investorsData center REITs have been one avenue for investors to participate in the massive capital spending from megacap tech companies building out AI infrastructure. Despite initial excitement at its IPO, Fermi disappointed investors in December saying that a potential tenant had cancelled an agreement intended to assist in financing the construction at its massive Texas location, posing a setback for the newly listed firm.The company’s latest earnings release didn’t diffuse those concerns. Though management told investors it was being deliberate, no new tenant was announced for the flagship Project Matador.The report emphasized the progress of Project Matador's construction, ongoing negotiations with potential tenants, and capital plans that rely on finalized tenant and financing agreements, underscoring an extended revenue timeline.Read NextMar 30, 2026 •By Daniel SparksHow Much Further Could Tesla Stock Fall?Mar 30, 2026 •By James BrumleyEveryone Is Rotating Out of Artificial Intelligence (AI) Stocks. Here's Why That Could Be a Costly Mistake in 2026.Mar 30, 2026 •By Emma NewberyStock Market Today, March 30: Micron Technology Falls on TurboQuant ShockMar 30, 2026 •By Adria CiminoWas Artificial Intelligence (AI) Just the Biggest Hype Cycle of This Generation? Here's What the Numbers Actually Say.Mar 30, 2026 •By Eric TrieStock Market Today, March 30: IREN Falls on Funding Risks for AI Data CentersMar 30, 2026 •By Eric VolkmanWhy Tenable Stock Roared to a Comeback TodayAbout the AuthorHoward Smith is a contributing Motley Fool stock market analyst covering technology and industrial stocks. Prior to The Motley Fool, Howard spent nearly 30 years supervising quality and operations in the steel industry, mostly with leading steel company Nucor. He holds a bachelor’s degree in metallurgical engineering from Lafayette College and a master’s degree in environmental engineering from Johns Hopkins University.TMFBuilt2LastStocks MentionedFermiNASDAQ: FRMI$5.36(-13.27%)-$0.82EquinixNASDAQ: EQIX$964.34(+0.14%)+$1.34Digital Realty TrustNYSE: DLR$175.32(-0.06%)-$0.10*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.