Fermi, a Texas-based AI power startup, is embroiled in a feud between its board and fired CEO Toby Neugebauer over a potential sale. Neugebauer, the top shareholder, is calling for an immediate sale after Fermi's market capitalization plunged from $20 billion to under $3.2 billion. The company has struggled to secure tenants for its "Project Matador" data center campus in the Texas Panhandle.
The board, led by Chairman Marius Haas, is resisting the sale, while Neugebauer and his allies control roughly 40% of shares. Read the full story at Fortune (subscription).
Source · Fortune
