"Fermi's CEO Toby Neugebauer and CFO Miles Everson have suddenly departed the AI nuclear power firm, sending shares down 22% on 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 on its project."
Fermi's CEO Toby Neugebauer and CFO Miles Everson have left the company, resulting in a 22% decline in shares. Neugebauer remains on the board but has stepped down as chairman, with Marius Haas taking over the role. Everson has been elected as a board director due to the exercise of director designation rights. Fermi, co-founded by Rick Perry, is developing an AI campus in Amarillo, Texas, which has faced challenges, including issues with a key customer. The company is branding these changes as Fermi 2.0 to reassure investors.
Read at TechCrunch
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