Fermi co-founder and CEO Toby Neugebauer and CFO Miles Everson have abruptly departed the AI nuclear power firm, sending shares plunging 22% on Monday.
The company said Neugebauer has stepped down as chairman, although he still remains on the board. LEAD Independent Board Director Marius Haas steps into the role of Chairman the company said monday. Melissa A. Everson has been selected as a Board Director as a result of the director designation rights exercise conducted by the Neugebauer 2020 Trust.
Fermi, which was co-founded by former US Energy Secretary Rick Perry, is developing an AI campus in Amarillo, Texas, that will eventually use nuclear reactors to power data centers. That complex, known as Project Matador, has struggled in recent months, including a disagreement with a major client. Bloomberg reported.
The company also launched departures, along with other plans, including a corporate headquarters in Dallas fermi 2.0 In an effort to signal to investors that he is still making progress on his project.
