Shares of U.S. power startup Fermi fell sharply on Monday after the abrupt departures of its chief ​executive and co-founder Toby Neugebauer as well as its Chief ‌Financial Officer Miles Everson.

The startup, co-founded by former U.S. Energy Secretary Rick Perry, has faced headwinds with its AI campus in Texas.

Fermi Inc., a developer of nuclear power for AI data centers, slumped after the sudden departure of co-founder and Chief ...