Sept 24 (Reuters) - Fermi, a data center builder

co-founded by former U.S. Energy Secretary Rick Perry, said on

Wednesday it was targeting a $13.16 billion valuation in its

initial public offering in the United States.

The Amarillo, Texas-based real estate investment trust is

seeking to raise up to $550 million by offering 25 million

shares priced between $18 and $22 apiece.

Data centers have become one of the most important

infrastructure in the world as technology companies race to

develop cutting-edge artificial intelligence models.

UBS Investment Bank, Evercore ISI, Cantor and Mizuho are

the joint lead book-running managers for the offering.

Fermi will list on Nasdaq under the symbol "FRMI."