5 Cheap Stocks That Are About to Explode

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1. Fermi Inc. (NASDAQ:FRMI)

Average Upside Potential: 85.59%

Fermi Inc. (NASDAQ:FRMI) is one of the cheap stocks that are about to explode. On June 30, Fermi announced an agreement with Primoris Services Corporation (NYSE:PRIM) to engineer and construct the balance of plant for the first six SGT-800 gas turbines at its power facility in Amarillo, Texas. This project supports the adjacent Project Matador hyperscale computing campus and marks a key milestone in Fermi’s 2.0 execution strategy to accelerate infrastructure delivery.

Primoris has already completed initial site preparations, including turbine island excavations and utility material staging. This expanded partnership leverages that existing progress to streamline the transition into full-scale engineering and construction, allowing Fermi to maintain project momentum and compress delivery timelines for the facility’s simple cycle phase.

The collaboration reflects Fermi’s strategy of partnering with established, high-performing contractors to develop large-scale private electric grids. By securing this scope, the companies aim to ensure disciplined, safe execution as they work toward completing the power infrastructure necessary to support Fermi Inc.’s (NASDAQ:FRMI) ambitious energy and AI compute goals.

Fermi Inc. (NASDAQ:FRMI) is a developer of private power campuses for AI-centric clients. It is involved in creating and operating an integrated power generation and computing infrastructure. Additionally, it also engages in the development and renting of grid-independent energy generation and high-performance computing campuses.

While we acknowledge the potential of FRMI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FRMI and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 Undervalued Stocks with High Upside Potential and 10 Most Profitable Undervalued Stocks to Invest In.

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