Former Energy Secretary Rick Perry's Fermi upsizes US IPO, aims to raise $715 million

Co-founded by former U.S. Energy Secretary Rick Perry, the company is aiming to sell 32.5 million shares priced between $18 and $22 apiece, compared with its previous target of 25 million shares. Fermi's upsized offering also indicates pent-up investor appetite for companies at the heart of the AI race, as the vast majority of leaders in the space continue to stay private. Nvidia-backed AI cloud provider CoreWeave's shares have more than tripled their IPO price since their debut in March.