Fermi terminates Toby Neugebauer and removes him from board
Updated
Updated · The Wall Street Journal · Apr 30
Fermi terminates Toby Neugebauer and removes him from board
7 articles · Updated · The Wall Street Journal · Apr 30
The company disclosed in a Thursday regulatory filing that the co-founder and former chief executive was fired for cause, escalating turmoil at the Texas power and data-centre campus developer.
Neugebauer stepped down as CEO earlier this month but had stayed on the board, and he has since called for the company to be sold.
Neugebauer co-founded Fermi with former US energy secretary Rick Perry, while the company’s shares have fallen more than 80% since its October market debut.
With its founder ousted and project stalled, can Fermi salvage its massive Texas data center campus from financial collapse?
Is the AI boom pushing Texas towards an energy crisis, sacrificing grid stability and clean air for massive data centers?