Rick Perry, former U.S. Energy Secretary, is launching a major U.S. initial public offering (IPO) for his data center REIT, Fermi. The company aims for a valuation of approximately $13 billion and is seeking to raise up to $550 million through the IPO. Fermi has announced a roadshow for its proposed offering of 25 million shares, with an expected price range of $18 to $22 per share. The IPO is part of a broader effort to capitalize on the growing demand for data center infrastructure, driven by increased digitalization and cloud computing. The company’s leadership highlights its strategic position in the data center market, leveraging Perry's background in energy and infrastructure. The offering is pending approval and is expected to attract significant investor interest given the size and scope of the valuation.