Fermi Appoints New CEO to Develop Nuclear-Powered AI Campus

U.S.-based Fermi, a company developing nuclear-powered artificial intelligence infrastructure, has announced the appointment of Lee McIntyre as its new CEO. McIntyre previously held leadership roles at CH2M Hill and TerraPower—a nuclear energy startup founded by Bill Gates. He also served on Fermi’s board of directors, giving him deep insight into the company’s business model.

McIntyre’s appointment comes three months after the departure of Fermi co-founder Toby Neugebauer, which had created instability within the company. In April, CFO Miles Evertson was also dismissed. Fermi’s leadership described these changes as part of its "Fermi 2.0" strategy, aimed at optimizing management and relocating its headquarters to Dallas.

The company’s flagship project remains Project Matador, an AI campus in Amarillo, Texas. The facility will use nuclear reactors to power data centers supporting AI workloads. This week, Fermi announced its first major contract with TensorWave to lease capacity under the project, boosting the company’s stock by 23% since the start of the week.

Fermi’s board chair Marius Haas noted that McIntyre’s unique experience in complex infrastructure projects will ensure the AI campus is built on schedule and within budget. His reputation is also expected to strengthen trust among regulators, clients, and local communities.