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Fermi Inc. (NASDAQ:FRMI) is one of the stocks Jim Cramer talked about. Cramer showed surprise at the market giving the company a huge valuation, as he said:
“Let’s not forget Fermi, which came public at the beginning of October on the heels of the most speculative AI-related trading of the year. Fermi’s more of a business plan than a business. They plan to build a massive data center in Texas, along with their own power generation, including, of course, something that everybody loves, a nuclear reactor eventually. Neat plan, but I almost lost my mind when the market bestowed this thing a $19 billion valuation right out of the gate. Like I said at the time, no business plan is worth $19 billion. Fermi was at $32 back then. Now, it’s at under 10 bucks. I hope you dodged that bullet.”
Photo by Robb Miller on Unsplash
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.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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