AI nuclear power firm Fermi finally names new CEO
AI-focused nuclear power company Fermi has appointed a new chief executive more than three months after ousting co-founder Toby Neugebauer, a move that came alongside a new customer deal and boosted the company's stock.
Fermi, the company developing nuclear-powered data centers for artificial intelligence, announced on Wednesday that it has hired a new CEO. Lee McIntire, previously an independent member of Fermi's board, will take over the top post. McIntire has held chief executive roles at CH2M Hill and at TerraPower, the nuclear startup founded by Bill Gates.
The appointment comes more than three months after Fermi removed co-founder Toby Neugebauer from the CEO position in April, along with chief financial officer Miles Everson. At the time, the company framed these changes, together with plans to open a corporate headquarters in Dallas, as part of what it called "Fermi 2.0."
Project Matador in Texas
Fermi America, co-founded by former U.S. Energy Secretary Rick Perry, is building an AI-focused campus in Amarillo, Texas, known as Project Matador. The site is intended to eventually rely on nuclear reactors to supply power to data centers.
The leadership news followed Monday's announcement that Fermi had signed TensorWave as its first binding customer lease for the Project Matador campus. Together, the two announcements gave a lift to Fermi's stock, which has risen nearly 23% since Monday.
Marius Haas, Fermi's board chairman, said in a statement that the company's next phase centers on construction and power delivery, and that McIntire's 40 years of experience delivering large, complex projects made him well suited to lead it. Haas also noted that McIntire is already familiar with Fermi from his time on the board during the company's recent growth period.
