Fermi CEO Toby Neugebauer leaves the company, as the data center developer faces issues in securing an anchor tenant and construction delays; FRMI drops 20%+
The world's largest data center project — backed by Trump allies and bearing his name — is stalled by delays and logistical hurdles that could stop it before it even starts.
Axios Amy Harder
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Discussion
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Elena Schlossberg
Elena Schlossberg
on linkedin
Here is the hard truth. You cannot BS your way through the real math and physics obstacles for power. …
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@seniormcgeezer
@seniormcgeezer
on bluesky
I believe this Ai data center is a scam/grift. — Also known as Project Matador, the campus is set to be called the President Donald Trump Advanced Energy and Intelligence Campus. — www.axios.com/2026/04/19/a...
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@notthatadamlevine
Adam Levine
on bluesky
The President Donald Trump Advanced Energy and Intelligence Campus may be in trouble. Big insider share sales, now this [embedded post]
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@edzitron.com
Ed Zitron
on bluesky
Fermi is dead and it'll be the first major data center project to get killed. — www.wheresyoured.at/premium-how- ... [embedded post]
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@masnick.com
Mike Masnick
on bluesky
This story is hilarious for many reasons beyond naming the project after Trump. These grifters are now admitting that building massive data centers was actually more complex than they realized, showing they had no idea what they were doing. — www.axios.com/2026/04/19/a...
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r/technology
r
on reddit
Trump-branded AI data center megaproject stalls, CEO departs
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@mithradatesvi
@mithradatesvi
on bluesky
Fermi shares are down 16% this morning on the news that it's CEO and CFO are resigning. But CEO Neugebauer is an alcoholic chaos gremlin, so I'd actually think the company has a better chance of making it now than before. [embedded post]
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@kostyack
John Kostyack
on bluesky
Fermi Energy's “President Donald Trump Advanced Energy and Intelligence Campus”, which would have burned 17 GWs of power, mostly fossil gas and mostly onsite, is in trouble. No anchor tenant has been found, construction has been delayed & the stock price is plummeting.