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CEO and CFO suddenly depart AI nuclear power upstart Fermi
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Fermi co-founder and CEO Toby Neugebauer and CFO Miles Everson have suddenly departed the AI nuclear power firm, sending shares down 22% on Monday.
Key facts
- Fermi co-founder and CEO Toby Neugebauer and CFO Miles Everson have suddenly departed the AI nuclear power firm, sending shares down 22% on Monday
- Lead Independent Board Director Marius Haas has stepped into the role of chairman, the company said Monday
- The company couched the departures, along with other plans including a corporate headquarters in Dallas, as Fermi 2.0 in an effort to signal to investors that it was still making progress
- Fermi, which was co-founded by former U.S. Energy Secretary Rick Perry, is developing an AI campus in Amarillo, Texas, which will eventually use nuclear reactors to power data centers
Summary
The company said Neugebauer has stepped down as chairman, although he still remains on the board. Fermi, which was co-founded by former U.S. Energy Secretary Rick Perry, is developing an AI campus in Amarillo, Texas, which will eventually use nuclear reactors to power data centers. The company couched the departures, along with other plans including a corporate headquarters in Dallas, as Fermi 2.0 in an effort to signal to investors that it was still making progress on its project.