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Fermi Nuclear AI Startup CEO and CFO Suddenly Depart; Shares Plunge 22%
Fermi co-founder/CEO Toby Neugebauer and CFO Miles Everson abruptly resigned from the Rick Perry-co-founded AI nuclear power startup, sending shares down 22% and erasing most of its value from a ~$20B October peak to $3.4B. An interim 'office of the CEO' will run the company while Heidrick & Struggles searches for a replacement. Fermi is developing an AI data center campus in Amarillo, Texas powered by nuclear reactors — the leadership crisis underscores the fragility of the AI-energy buildout narrative.
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