
AI nuclear power firm co-founded by former Energy Secretary Rick Perry sees 22% share drop
AI-generated summary
Fermi co-founder and CEO Toby Neugebauer and CFO Miles Everson have suddenly departed the AI nuclear power firm, sending shares down 22% on Monday. The company said Neugebauer has stepped down as chairman, although he still remains on the board. Lead Independent Board Director Marius Haas has stepped into the role of chairman, the company said Monday. Everson has been elected as a board director as a result of the exercise of director designation rights held by the Melissa A. Neugebauer 2020 Trust. Fermi, which was co-founded by former U.S. Energy Secretary Rick Perry, is developing an AI campus in Amarillo, Texas, that will eventually use nuclear reactors to power data centers. That campus, known as Project Matador, has struggled in recent months, including friction with a key customer, Bloomberg reported.
Coca-Cola is expanding its food service innovation with new, customizable drink dispensers. By leveraging real-time data from its Freestyle machines, the company aims to capture the growing market for 'dirty sodas', refreshers, and energy drinks to drive sales.

Trade talks between the U.S. and Canada collapsed Friday night, triggering a standoff over $20 billion in potential tariffs. Canadian PM Mark Carney suspended negotiations citing unfair U.S. demands, while U.S. Trade Representative Jamieson Greer blamed Canada.

Accounting startup Rillet has reached a $1 billion valuation after a $100 million funding round led by Iconiq. The company, which provides AI-native bookkeeping software, reports rapid growth as customers transition from legacy systems like Oracle and NetSuite.

Walmart announced it will begin accepting Apple Pay and Google Pay at its stores and Sam's Club locations starting August 24. The move marks a significant shift for the retailer, which previously prioritized its proprietary payment systems over industry standards.

The FTC is considering new enforcement guidelines to restrict 'personalized pricing,' where businesses use personal data to set individual prices. While the agency aims to prevent deceptive practices, some critics fear the policy could inadvertently eliminate common discounts.

Apple has laid off over 200 employees from its Siri and Vision Pro divisions. The cuts include the closure of a Vision Pro gaming team and reductions in immersive content staff, as the company pivots its strategy following the headset's 2024 launch.