Fermi, the AI nuclear power company, has appointed Lee McIntire as its new chief executive, more than three months after co-founder Toby Neugebauer was removed from the top job. McIntire, an independent member of Fermi's board, previously served as CEO of CH2M Hill and TerraPower, the nuclear startup founded by Bill Gates.
The company announced the move on Wednesday, alongside recent progress at its Project Matador campus in Amarillo, Texas, which is designed to use nuclear reactors to power data centers. On Monday, Fermi signed TensorWave as its first binding customer lease for the site.
Fermi's stock has risen nearly 23% since Monday, recovering from a setback in April when Neugebauer and CFO Miles Everson were pushed out. The company described the shakeup as part of its 'Fermi 2.0' plan, which also includes a corporate headquarters in Dallas.
Chairman Marius Haas said in a statement: 'Fermi's next chapter is a construction and power delivery story, and we believe Lee is the ideal executive to lead Fermi through that process. The job now is to build on schedule, on budget, and safely.'