Fermi America has appointed Lee McIntire as chief executive more than three months after removing co-founder Toby Neugebauer from the role. McIntire, an independent member of Fermi’s board, previously held senior executive positions at CH2M Hill and Bill Gates-backed nuclear company TerraPower.
Fermi is developing Project Matador, a large AI and data center campus in Amarillo, Texas, that is intended to draw power from nuclear reactors and other generation sources. The company said McIntire will lead the project through its construction and power-delivery phase.
The appointment follows Fermi’s announcement this week that TensorWave has signed the first binding customer lease at Project Matador. Together, the two announcements helped lift Fermi shares by nearly 23% from Monday through Wednesday.
McIntire Takes Over After April Leadership Shakeup
Fermi removed Neugebauer and chief financial officer Miles Everson in April as part of a broader restructuring. The company described the changes as “Fermi 2.0,” which also included plans to establish a corporate headquarters in Dallas.
In its official leadership announcement, Fermi said McIntire brings about four decades of experience delivering large infrastructure projects. Board chairman Marius Haas said the company’s priority is now to build Project Matador on schedule, within budget, and safely.
McIntire previously served as CEO of CH2M Hill and has experience at TerraPower, which is developing advanced nuclear reactors. He had already been serving on Fermi’s board during the company’s recent expansion.
Project Matador Moves Toward Commercial Operations
Fermi America was co-founded by former US Energy Secretary Rick Perry and is positioning Project Matador as a power-intensive campus for AI infrastructure. The company plans to combine data centers with on-site generation, including nuclear power.
TensorWave’s agreement gives Fermi its first binding tenant commitment for the campus. The AI infrastructure company provides cloud computing services built around AMD GPUs and is expected to use capacity at the Texas site.
The customer agreement provides Fermi with an early source of contracted demand as it works to finance and construct the campus. Fermi has not yet disclosed a final completion date for the full Project Matador development.
The leadership change comes as electricity demand from AI data centers continues to drive investment in new power generation and transmission projects across the US. Fermi’s strategy centers on placing computing infrastructure close to large-scale energy generation rather than relying entirely on existing regional grids.
Featured image credits: Magnific.com
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