Sept 29 (Reuters) - Fermi is aiming to raise $715

million in its upsized U.S. initial public offering, the data

center real estate investment trust said on Monday, as it aims

to leverage burgeoning demand for energy infrastructure required

to support AI buildouts.

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.

The outsized demand for energy supply stems from efforts to

scale large language models by companies such as Anthropic and

ChatGPT-parent OpenAI, which has been signing deals worth

hundreds of billions of dollars with Oracle, SoftBank

and CoreWeave ( CRWV ).

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 ( NVDA )-backed AI cloud provider CoreWeave's ( CRWV ) shares

have more than tripled their IPO price since their debut in

March.

Fermi is aiming to build the world's largest energy and data

complex, powered by nuclear, natural gas and solar.

It has incurred a $6.4 million loss since its inception

through June 30 and does not expect to generate revenue within

the next 12 months.

UBS, Evercore, Cantor and Mizuho are the joint lead

book-running managers.

Fermi will list on the Nasdaq and the London Stock Exchange

under the symbol "FRMI".