Fermi Announces New CEO as AI Nuclear Power Project Advances

Fermi, an AI-driven nuclear power company, has appointed Lee McIntire as its new CEO following the departure of co-founder Toby Neugebauer. McIntire, a former executive at CH2M Hill and TerraPower, brings extensive experience in large-scale projects. Fermi is developing Project Matador, an AI-powered campus in Amarillo, Texas, designed to use nuclear reactors for data center energy. The company’s stock rose nearly 23% after announcing TensorWave as its first customer for the project. The CEO change follows a restructuring in April when Neugebauer and CFO Miles Everson were removed, marking Fermi 2.0. Marius Haas, the chairman, emphasized McIntire’s expertise in delivering complex projects on time and within budget. The announcement highlights Fermi’s focus on construction and power delivery, with plans to ensure safety and regulatory compliance. The new CEO’s background aligns with Fermi’s goals to advance nuclear energy integration with AI technologies.