Giant Data Center Developer Fermi Crashes 22% After CEO, CFO Abruptly Quit [zero hedge]
Evercore Inc. Class A (EVR)
Last evercore inc. class a earnings: 4/22 06:00 am
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Source: zero hedge
Giant Data Center Developer Fermi Crashes 22% After CEO, CFO Abruptly Quit Last November, we warned that storms clouds were gathering over the torrid, and in some cases chaotic, rollout of US data centers, after Fermi's massive 11 GW energy and data center project in Texas, called Project Matador, which the company has envisioned to be the world's largest AI data center and energy campus in the Texas Panhandle, near Amarillo, was struggling to close the deal with its first major data center tenant (and since Fermi is set up as REIT that allocates income from tenants to shareholders, the delay may raise doubts about attracting other potential money-generating tenants, in a toxic feedback loop). Fermi's Project Matador - The President Donald J. Trump Advanced Energy and Intelligence Campus. Fast forward 6 months, and the Fermi story has gone from bad to catastrophic, after the developer of nuclear power for AI data centers, slumped following the sudden departure of co-founder and Chief
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