Fermi Appoints Former TerraPower CEO to Lead Nuclear AI Venture
AI-generated image · US National Wire
The company taps board member Lee McIntire as CEO following the April ouster of co-founder Toby Neugebauer.
Fermi has named Lee McIntire as its new chief executive, TechCrunch reports. The appointment comes more than three months after the company fired co-founder Toby Neugebauer from the top post in April, a shakeup that also saw CFO Miles Everson pushed out.
McIntire joins the executive role as an independent member of Fermi's board. His professional background includes previous chief executive positions at CH2M Hill and TerraPower, the nuclear startup established by Bill Gates. According to a statement from Fermi Chairman Marius Haas, the company is entering a phase focused on construction and power delivery, requiring an executive capable of managing large, complex projects on budget and on schedule.
Fermi, which was co-founded by former U.S. Energy Secretary Rick Perry, is currently developing Project Matador, an AI campus in Amarillo, Texas, designed to utilize nuclear reactors to power data centers.
The leadership change follows a period of volatility for the firm, which rebranded its strategic shift as "Fermi 2.0" and announced plans for a Dallas headquarters. TechCrunch notes that the CEO announcement, coupled with the signing of TensorWave as the first binding customer lease for Project Matador, has positively impacted the company's valuation, with stock rising nearly 23% since Monday.