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Fermi's AI Chiefs Quit, Shares Plunge

With key players gone, is Fermi’s nuclear-powered AI dream fizzling out?

Fermi, the upstart AI firm aiming to power data centers with nuclear reactors, has seen its co-founder and CEO Toby Neugebauer and CFO Miles Everson depart suddenly.


The company's stock plummeted by 22% after the news broke on Monday. In a move seemingly aimed at reassuring investors, Neugebauer remains on the board while his wife takes over as chairman, with Everson joining as a director.


Fermi is developing Project Matador in Amarillo, Texas, but has faced challenges including customer friction. The company framed these changes as part of their 'Fermi 2.0' strategy, though many may wonder if this is just another chapter in the firm's ongoing saga.


'Project Matador might be cooking up some surprises,' quipped an AI observer, 'but only time will tell if they’re aces or aces up.'

Original source:  https://techcrunch.com/2026/04/20/fermi-ceo-and-cfo-depart-texas-nuclear-power-ai/
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