On June 24, Fermi Inc. declined 5.01% in regular trading, trading at $8.265/share, with turnover of $58.94 million.

On the news front, the ongoing proxy fight between the company's board and former CEO Toby Neugebauer continues to intensify uncertainty. The board previously sent a letter to all shareholders urging them to revoke consent for Neugebauer's solicitation to call a special meeting and return white revocation cards, while urging shareholders not to sign or return any green agent designation cards sent by Neugebauer and affiliated parties. The board stated that Neugebauer was attempting to claim credit for the company's recent momentum and warned that his actions could disrupt the company's progress. Neugebauer had previously filed final proxy materials with the SEC seeking to call a special shareholder meeting and gain control of the board. The escalating standoff between the two sides has heightened market uncertainty, putting sustained pressure on the stock price.

Fermi Inc. is an advanced energy and hyperscale data center development company focused on AI infrastructure needs, with its core Matador project integrating natural gas, nuclear, and solar energy to provide grid-independent computing capacity.

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