Trump-branded AI data center megaproject stalls, CEO departs [View all]

Source: msn/Axios

3h


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.

The latest sign of trouble emerged Friday: CEO Toby Neugebarger abruptly departed. That sent the company's shares, which already shed 75% in the last six months, plummeting in aftermarket trading.

Why it matters: Fermi America, co-founded by President Trump's former Energy Secretary Rick Perry, is emerging as a high-profile test of whether the biggest, most ambitious AI infrastructure projects can deliver on their promises.

Behind the scenes: In an interview with Axios on Thursday, Neugebarger defended the project while acknowledging some shortcomings. He gave no indication that his departure was imminent.

Neugebauer told Axios he may have been naive about how complex these projects are to put together, particularly the cooling systems that are essential to cool the AI chips.

Pushing back on the line of questioning, he said he may have "misunderstood where the supply chain is" for cooling equipment: "I will accept that as a failure."

Read more: https://www.msn.com/en-us/money/general/trump-branded-ai-data-center-megaproject-stalls-ceo-departs/ar-AA21eqha

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When this AI bubble bursts, it'll make the "dot-com" bubble-bursting look like a walk in the park.

And this -



Rick Perry, your quintessential Rhinestone Cowboy.