Business
Fermi Inc Stock Jumps 13% Amid AI Power Play and Leadership Shakeup Recovery Hopes
NEW YORK — Fermi Inc. shares climbed sharply in early trading Wednesday, rising 13.14 percent to $5.72 as investors appeared to shake off recent volatility tied to a high-profile CEO departure and betting on the company’s ambitious plans to deliver gigawatt-scale power for artificial intelligence data centers.

The Nasdaq-listed stock (FRMI) gained 66 cents by 10:42 a.m. EDT on above-average volume, marking a partial rebound after Monday’s steep decline following news of leadership changes at the specialized real estate investment trust focused on energy infrastructure for hyperscale computing.
Fermi Inc., operating as Fermi America, develops private power campuses designed to supply behind-the-meter electricity directly to AI-centric customers, bypassing strained public grids. Its flagship Project Matador envisions an 11-gigawatt “HyperGrid” campus on more than 5,200 acres near Amarillo, Texas, combining data center facilities with on-site generation from natural gas, solar and planned nuclear units.
The company positions itself at the intersection of two explosive trends: surging electricity demand from AI training and inference workloads and chronic delays in traditional grid interconnections. By building dedicated power infrastructure, Fermi aims to offer tenants reliable, redundant energy faster than competitors reliant on utility-scale transmission queues that can stretch years.
Recent volatility stems from a leadership transition. On or around April 20, the company announced that CEO Toby Neugebauer had stepped down immediately, with the CFO also departing. The moves rattled traders, sending shares down more than 13 percent that day and contributing to broader uncertainty around execution of Project Matador. Short seller commentary, including critiques labeling the venture “not a field of AI dreams,” added pressure in recent sessions.
Despite the turbulence, some analysts and momentum investors see the dip as a buying opportunity. Fermi’s core thesis remains intact: U.S. data center capacity constraints and power shortages could drive hyperscalers toward behind-the-meter solutions. The company has highlighted partnerships, including advanced discussions with Hyundai Engineering & Construction for nuclear technology, and progress on permitting and front-end engineering design for AP1000 reactors.
Fermi went public in late 2025 via an IPO structured as a REIT, allowing tax-efficient operations while focusing on long-term leases for power and computing space. The REIT structure appeals to income-oriented investors but has drawn scrutiny over whether the company qualifies given its heavy development focus and limited current revenue.
Project Matador remains the centerpiece. Fermi has spoken of bringing the first gigawatt online by the end of 2026, with ambitions to scale to 11 GW or more. Executives have emphasized “HyperRedundant” power delivery — combining multiple generation sources for uptime critical to AI operations that cannot tolerate outages. The campus model includes land acquisition, permitting, construction and leasing to major tech tenants seeking to avoid public grid bottlenecks.
Financially, Fermi is still in the heavy investment phase. The company has reported net losses as it funds development, permitting and early construction. Recent secured financing facilities, including a $156 million committed facility announced in early April and earlier turbine equipment deals, provide runway but also raise dilution concerns if additional equity raises follow.
Analysts remain divided. Some maintain bullish price targets well above current levels, citing massive addressable demand from AI growth and Fermi’s first-mover advantage in private power campuses. Others have lowered targets or expressed caution over execution risks, lack of signed major tenant contracts to date, regulatory hurdles for nuclear components and competition from established data center REITs and utility-backed projects.
The stock’s journey has been dramatic since going public. Shares experienced sharp swings, hitting new 52-week lows in early April before rebounding on AI sector momentum and then pulling back again on leadership news. Wednesday’s 13 percent gain suggests some traders are looking past the near-term noise toward longer-term potential in the AI power infrastructure theme.
Fermi’s board and interim leadership have not yet detailed a permanent CEO search, but the company continues to push forward on strategic initiatives. Recent updates have included progress on clean air permitting in Texas and deepened nuclear collaboration talks. The involvement of high-profile figures, including former Energy Secretary Rick Perry on the board in earlier stages, lent credibility to the nuclear angle, though the company has since emphasized a hybrid generation approach.
Broader market context supports selective buying in AI-adjacent names. While major indices trade modestly higher Wednesday, stocks tied to data center infrastructure and energy have shown sporadic strength as investors weigh the massive electricity needs of next-generation AI models.
For Fermi, the path forward hinges on several milestones: securing anchor tenants for Project Matador, advancing nuclear or gas generation timelines, maintaining financing discipline and navigating regulatory processes in Texas. Success could validate the private power campus model and deliver substantial upside; delays or cost overruns could pressure the stock further given its already volatile history.
Retail investor interest has been notable, with social media and trading forums frequently discussing FRMI alongside other small-cap AI infrastructure plays. High short interest and elevated options activity have amplified swings, creating opportunities for nimble traders but also significant risk for those chasing momentum without regard to fundamentals.
As the morning session continued, Fermi shares held most of their gains, though volatility remained elevated. The upcoming earnings cycle and any fresh updates on Project Matador or leadership will likely dictate the next leg of movement.
Fermi Inc. represents a high-risk, high-reward bet on the infrastructure layer supporting the AI boom. While recent leadership changes have introduced uncertainty, the underlying demand for reliable, scalable power for data centers continues to grow. Whether the company can execute on its ambitious Texas vision will determine if today’s rebound marks the start of sustained recovery or another chapter in its volatile trading story.
Business
Diales Group reports 43% jump in half-year operating profit

Diales Group reports 43% jump in half-year operating profit
Business
Tourist Charged Over Damages Caused to Fountain of Neptune Due to Pre-Wedding Prank
A 28-year-old tourist has been charged for causing damage to the Fountain of Neptune in Florence in an alleged pre-wedding prank.
The cost of the damages has been put at €5,000, which is around $5,847.
Tourist Charged for Damaging Fountain of Neptune
According to a report by The Guardian, the tourist allegedly climbed the Fountain of Neptune to touch its genitals as part of a pre-wedding prank. The nationality of the tourist has not been disclosed.
Authorities spotted her quickly and removed her from the fountain, which is located in Piazza della Signoria. Per Florence’s city council, the tourist said she was dared by her friends to perform the act.
The city council noted that her actions “minor but significant damage to both the legs of the horses she had walked on and to the frieze she held on to in order to avoid slipping.”
Not the First Time Damage Was Caused to Fountain
This most recent incident is not the first time that a tourist has caused damage to the Fountain of Neptune.
Two years ago, a German tourist was detained after causing €5,000-worth of damage to the fountain. The then-22-year-old tourist had allegedly stood on the fountain while friends took photos from the other side of the barrier.
“According to the investigators’ reconstruction, after 1 o’clock this morning the tourist, in Piazza della Signoria with two other friends, climbed over the fence of the Neptune Fountain and climbed onto the edge of the pool,” the city of Florence said in a statement at that time, according to CNN.
“With a jump he then climbed onto the horse’s leg, reaching the base of the carriage and, after having some photos taken by his friends, he climbed down,” the statement continued. “During the descent he placed his foot again on the hoof, damaging it. As soon as the alarm went off, however, the young man had already managed to escape with the two others,” it added.”
Originally published on Travelers Today
Business
Upstream oil and gas producers to shine in Q4, but OMCs and gas distributors face profit squeeze
Brent crude averaged around $81 per barrel in the March 2026 quarter, up nearly 28% sequentially, boosting net crude realisations for producers. Nomura Financial Advisory and Securities expects Ebitda for ONGC and Oil India to increase 23% and 49% respectively from the previous quarter. Upstream companies are expected to register marginal declines in oil and gas production and sales volumes, mainly due to natural field decline and maintenance shutdowns. However, this will be more than offset by higher crude prices.
AgenciesSIEGE OF HORMUZ Rising crude prices to benefit producers, shrink margins of marketers
OMCs such as Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) are expected to register sequential earnings pressure due to lower product realisations as fuel prices remained stable despite a spike in crude prices. The weighted average gross marketing margins on auto-fuel dropped sharply to about ‘1.7 per litre in the March quarter from ‘5.2 per litre in December quarter. It was also well below the historical average of around ‘3.5 per litre, noted JM Financial Institutional Securities in a report.
LPG under-recoveries for OMCs are likely to rise quarter-on-quarter to around ‘10,000 crore in the March quarter from about ‘1,900 crore in the prior quarter on account of a sharp rise in global LPG prices due to the ongoing supply disruption due to war in West Asia.
Kotak Institutional Equities expects HPCL’s Ebitda to fall 51% quarter-on-quarter in the March quarter, while BPCL and IOC are likely to report declines of 28% and 22%, respectively.
Brokerages expect the earnings of oil-to-chemical segment of Reliance Industries to decline by higher crude cost, rise in shipment and insurance cost, losses in the retail fuel segment, diversion of propane to produce LPG, and increase in prices of Naphtha, a major feedstock.
Gas utilities and city gas distribution (CGD) companies are expected to report a soft quarter hit by LNG supply disruptions through the Strait of Hormuz, higher spot LNG prices and rupee depreciation. India’s overall gas demand in the March quarter is estimated to have declined around 10% sequentially, as LNG imports were disrupted. This weighed on volumes and profitability across the gas value chain. GAIL’s Ebitda is expected to drop 12-38% sequentially, led by weaker gas trading margins, lower transmission volume and losses in petrochemicals.
Business
Selective investing the way forward as AI, valuations reshape market trends: Dipan Mehta
IT Sector: Lingering Uncertainty Amid AI Disruption
When asked whether it is still wise to stay away from IT stocks, Mehta did not mince words.
“Yes, absolutely. I think that there is still a lot of confusion around AI disruption and especially largecap IT stocks seem to be most vulnerable because of the scale. The base effect is a negative and clearly their demand is driven by multi-year multi-billion dollar contracts, so that is becoming more and more scarce for them and I suspect they are facing pricing pressure as well. But midcap IT companies, they may be able to manage the AI disruption far better. We like the numbers which came through from Persistent Systems and Tata Elxsi, both smaller companies with greater client concentration, which was earlier a risk factor but now may be a bit of a benefit for these companies. So, we need to be a bit selective when it comes to software services companies and especially largecap IT services. I do not know how they are going to manage this particular phase in the industry.”
His comments underline a structural shift in the sector, where scale—once a strength—may now pose challenges in adapting quickly to AI-led disruption.
Trent: Strong Momentum, But Valuation Concerns Persist
On the retail front, the conversation turned to Trent, a stock that has seen extended underperformance in the past but is now showing signs of revival. However, Mehta remains cautious.
“No, I think that even their pre-quarter release was quite positive and maybe it is going into a slightly higher growth rate, but still valuations remain quite expensive and my sense is that the company’s return should be in line with the earnings growth. So, around 15% to 20% or thereabout is what can be expected. But look, this entire war and the effect of artificial intelligence on the software services companies, that is going to have an impact on disposable and discretionary spending. So, while the March quarter may be fine, we may see some chinks coming in the June quarter. “So, on the entire consumption theme also one should be a bit cautious or at least reduce your expectations. So, I think that while the momentum is good in Trent, of course, the bonus issue certainly has helped lift the sentiment, but then considering the risk return profile, considering its expensive valuation, I would not want to put more investment into Trent. Having said that, it is a company in which we are invested in, so I would keep the same stance: remain invested, lower your expectations, expect returns in line with what the kind of earnings growth are, but I would not want to buy it at these levels considering the kind of valuations it is trading at,” he added.
The takeaway: existing investors may hold, but fresh entries at current valuations could be risky.
Cooling Stocks: A Seasonal Opportunity
Shifting gears to summer-driven demand, Mehta pointed to a potential opportunity in cooling solutions, driven by rising temperatures.
“It is going to be a very hot summer. So, while you are perspiring inside, you may take relief in the fact that if you have got a play on some of the air conditioning or the air cooling companies, then that may just make managing summer a little bit more palatable. One company comes to mind, usual disclosures of course, is Symphony, which is India’s largest air cooling company and it has been having a torrid time for the last few quarters or so, and clearly because of changing weather patterns and poor monsoon, the performance has been pretty stagnant for the last several quarters…”
While the sector has faced headwinds, seasonal demand could offer a near-term tailwind.
The Broader Picture
Across sectors, Mehta’s message is consistent: be selective, manage expectations, and stay mindful of macro shifts—from AI disruption to changing consumption patterns. In a market that is increasingly nuanced, broad-based optimism may give way to stock-specific strategies.
Business
Tesla lifts 2026 spending plans by a quarter as Musk funds AI and robotic dreams

Tesla lifts 2026 spending plans by a quarter as Musk funds AI and robotic dreams
Business
Sun Life Remains A Bright Spot In A Volatile Market, Despite Elevated Valuation
Sun Life Remains A Bright Spot In A Volatile Market, Despite Elevated Valuation
Business
TWEET Sends Players Into Social Media Frenzy on April 23 2026
NEW YORK — Millions of daily Wordle players woke up Thursday to a timely twist as the New York Times’ popular word puzzle delivered “TWEET” as the solution for puzzle No. 1769 on April 23, 2026, sparking a wave of online reactions that blended bird chirps, nostalgia for old Twitter and fresh debates about the platform now known as X.
The five-letter answer, which doubles as both a noun describing the thin chirping sound of a small bird and a verb meaning to make such a sound or post a short message online, proved moderately challenging for many. According to early data shared by WordleBot, the average solver needed about 4.2 guesses in easy mode and 4.1 in hard mode, placing it near the middle of recent difficulty rankings.
Players who opened the game on Thursday morning encountered a fresh grid with no prior letters revealed. Common opening guesses such as “SLATE,” “RAISE,” “CRANE” or “AUDIO” quickly narrowed options. The double “E” in positions three and four, combined with the starting “T,” tripped up solvers who fixated on words like “TREAT,” “SWEET” or “FLEET” before landing on the correct choice.
Hints circulating on social media and puzzle sites proved especially helpful. Subtle clues included “a bird’s sound” or “avian speech,” while others noted the presence of a repeated vowel in the middle and the absence of certain common consonants. One popular hint warned that the word had no relation to snoring — a playful nod to the previous day’s answer, “SNORE,” for puzzle No. 1768 on April 22.
For those still hunting when the clock struck midnight in their time zone, the solution arrived with a satisfying green-tile sweep: T-W-E-E-T. The word’s dual meaning fueled immediate commentary. Bird enthusiasts celebrated the ornithological accuracy, while longtime social media users reminisced about the original Twitter “tweet” feature that once defined short-form posting before character limits expanded and the platform rebranded.
Wordle’s enduring appeal lies in its simple yet addictive formula. Created by Josh Wardle and acquired by the New York Times in 2022, the game limits players to six guesses per day for a single five-letter word. Tiles turn green for correct letters in the right spot, yellow for correct letters in the wrong spot and gray for letters not in the word at all. The shared daily puzzle fosters a global community that swaps results via emoji grids without spoilers.
On April 23, those emoji grids flooded timelines with patterns showing everything from lucky two-guess solves to frustrating six-guess near-misses. Some players admitted starting with “BIRD” or “CHIRP” only to watch yellow and gray tiles pile up before pivoting. Others praised starting words like “PLAID” or “TOUCH” that efficiently eliminated possibilities.
Puzzle No. 1769 arrived amid a busy spring for word-game fans. Recent answers included “CLUMP” on April 21 and “WEAVE” on April 20, showing the NYT editors’ mix of everyday vocabulary with occasional curveballs. “TWEET” fits neatly into the game’s preference for common English words that avoid overly obscure or offensive terms.
Difficulty metrics suggest the puzzle was fair but not trivial. The presence of repeated letters — the two E’s — added a layer many solvers overlook on early attempts. WordleBot analysis indicated that optimal openers like “SLATE” left roughly 579 possibilities after one guess for some players, requiring careful elimination in subsequent turns.
The answer also sparked lighthearted cultural commentary. With “tweet” once synonymous with rapid online sharing, some users joked that solving it in fewer than four guesses qualified as “going viral.” Others noted the irony of posting about “TWEET” on the very platform that retired the term. One Reddit thread in r/wordlegame filled quickly with users sharing streaks and debating whether the word felt too on-the-nose for a Thursday morning.
For newcomers or those rebuilding a streak, experts recommend starting with words rich in vowels and common consonants. Popular strategies include “ADIEU” or “AUDIO” for vowel placement, followed by consonant-heavy guesses like “STERN” or “CLAMP.” Hard-mode players must reuse confirmed letters, which can sharpen focus but sometimes prolong solves.
Wordle’s streak feature continues to motivate millions. Players who maintain daily solves build impressive runs, with some boasting hundreds of consecutive days. Losing a streak because of a tricky word like Thursday’s “TWEET” can sting, but the game’s forgiving nature and lack of penalties keep most coming back.
Beyond the daily puzzle, the New York Times offers an archive for subscribers, allowing replay of past challenges. On April 23, casual solvers could look back at recent winners while preparing for Friday’s puzzle No. 1770. Community sites and apps provide spoiler-free hints, statistics and companion games such as Connections, Spelling Bee and Strands.
Parents and educators have embraced Wordle as a low-pressure way to build vocabulary and logical reasoning. Teachers report using the puzzle in classrooms to discuss letter frequency, word patterns and deductive thinking. For families, the shared evening ritual of tackling the day’s word has become a screen-time bright spot.
The game’s accessibility helps explain its staying power. No downloads or subscriptions are required for the basic daily puzzle, though NYT Games subscribers gain extras like the full archive and ad-free experience. Since its explosion in popularity in late 2021 and early 2022, Wordle has inspired countless clones and variations, yet the original remains the gold standard.
As April 23 unfolded, reaction threads highlighted the puzzle’s clever timing. One solver posted, “Solved TWEET in 3 — feeling like I just posted the perfect thread.” Another lamented, “Got stuck between SWEET and TWEET until the final guess. Classic Wordle trap.”
WordleBot, the NYT’s official analysis tool, praised efficient solvers while gently ribbing those who burned guesses on unlikely candidates. Its suggested starting word for the day was “SLATE,” which many found effective at clearing multiple vowels and consonants early.
Looking ahead, the Wordle team maintains a careful balance in selecting answers. Words must be valid, reasonably common and free of proper nouns or offensive connotations. “TWEET” meets all criteria while carrying enough cultural resonance to generate buzz without alienating international players for whom the social-media meaning may be secondary to the literal bird sound.
By late Thursday morning in U.S. time zones, thousands had already shared their results, with green-heavy grids dominating feeds. The puzzle’s solution reinforced Wordle’s role as a daily mental palate cleanser — a brief, satisfying escape amid busy schedules and endless scrolling.
Whether you nailed “TWEET” on the first try or needed all six guesses, the game once again delivered its signature mix of challenge and delight. For many, it provided the perfect excuse to pause, think and maybe even tweet — or post — about the experience.
As players reset for tomorrow’s puzzle, the collective conversation around Wordle #1769 served as a reminder of the game’s simple genius: one word, six chances and a worldwide community united by colored tiles and friendly competition.
Business
Australia now has 46 days of fuel supply
Prime Minister Anthony Albanese has given an update on the status of Australian fuel supplies, saying there was no imminent possibility of the country moving to a higher level of the national fuel security plan.
Business
An Introduction to Doing Business in Singapore 2026
“Singapore’s 2026 economic focus shifts from growth to stability, emphasizing reliable regulation, strategic positioning, and dependability for investors in a changing global trade environment.”
Overview of Singapore’s Economic Outlook
The “Introduction to Doing Business in Singapore 2026” report from Dezan Shira & Associates highlights Singapore’s economic resilience. While growth has slowed, with GDP expected to expand between 0 and 2 percent, this reflects softer external demand and a decline in manufacturing output. Trade-sensitive sectors, including non-oil domestic exports, have experienced about a 3.5 percent decrease year-on-year, emphasizing Singapore’s economy reliance on global demand conditions.
Strategic Investment Environment
Despite slower growth, Singapore remains attractive for foreign investors due to its stable regulatory environment, advanced financial markets, and institutional capacity. The shift in investment strategy focuses less on short-term growth and more on leveraging Singapore’s reliability as a strategic platform. In today’s uncertain trade landscape and restructuring of global supply chains, Singapore’s consistent regulatory framework offers a competitive advantage.
About the Publication
This comprehensive guide, prepared in June 2023, provides essential insights into investing in Singapore. Dezan Shira & Associates, experts in foreign direct investment services, compiled it to assist multinationals and SMEs in understanding Singapore’s business environment, covering aspects such as corporate setup, compliance, tax, and financial management.
Read the original article : An Introduction to Doing Business in Singapore 2026 – New Publication from Dezan Shira & Associates
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Man selling drugs at High Street mini-mart confronted by BBC
Cocaine and cannabis are among drugs being readily offered for sale in High Street mini-marts, a BBC investigation has revealed.
Undercover researchers secretly filmed in towns across the West Midlands, including one shop called Cradley Market. One of those researchers met Akwa, who works behind the counter there.
It took just seconds for Akwa to supply him with 3.5g of cannabis for £30. “I’ve got weed, coke, everything. Whatever you want, I can sort you out,” Akwa told the researcher, later supplying him with cocaine.
Akwa denied any wrongdoing when the BBC’s UK Editor Ed Thomas later confronted him. When asked about selling drugs, he said he did not know what he was talking about, before asking Ed and his team to leave.
The government is working with police, the National Crime Agency (NCA) and Trading Standards to “take the strongest possible action against these criminal businesses”, a spokesperson for the Home Office said. West Midlands Police said it would always work with partners “to act on complaints about illegal drugs sales, anti-social behaviour, and crime and disorder”.
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