AI nuclear power firm Fermi finally has a new CEO
In Brief
3:24 PM PDT · August 12, 2026
Fermi, the AI nuclear power firm, has named a new CEO more than three months after firing co-founder Toby Neugebauer from the top executive post.
Fermi said Wednesday it has hired Lee McIntire, an independent member of the company’s board who has held chief executive positions at CH2M Hill and TerraPower, the nuclear power startup founded by Bill Gates.
Fermi America, which was co-founded by former U.S. Energy Secretary Rick Perry, is developing an AI campus in Amarillo, Texas, called Project Matador that will eventually use nuclear reactors to power data centers.
The announcement, along with Monday’s news that it had signed TensorWave as its first binding customer lease for its Project Matador campus, provided a welcome boost to Fermi’s stock. (The stock is up nearly 23% since Monday.) The young company took a hit in April when Neugebauer and...
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