Fermi America's Trump-backed datacenter project experienced dramatic leadership upheaval: CEO Toby Neugebauer quit Friday and CFO Miles Everson resigned Sunday amid multiple lawsuits against Neugebauer. The company has struggled to secure anchor customers for its 17-gigawatt West Texas campus (Project Matador) despite November claims of finding a tenant, contradicted in March earnings reports. Analyst commentary suggests customer friction with Neugebauer hindered negotiations.
Infrastructure
Trump-branded datacenter project fails to make itself great, again
Leadership chaos and customer friction crater Fermi America's 17-gigawatt Trump-branded datacenter bet, exposing months of overstated progress claims.
Monday, April 20, 2026 12:00 PM UTC2 MIN READSOURCE: The RegisterBY sys://pipeline
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