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Fermi CEO, CFO Depart; Shares Drop
TechCrunch·
AI nuclear power startup Fermi announced the sudden departures of its CEO, Toby Neugebauer, and CFO, Miles Everson. This news caused the company's shares to plummet by 22%. Neugebauer will remain on the board, while Everson has been appointed as a director. The company is undergoing a restructuring, referred to as 'Fermi 2.0,' which includes relocating its headquarters. These changes come amid reported struggles with its Project Matador, an AI campus powered by nuclear reactors, and friction with a key customer.
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ai
energy
layoffs
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