Fermi Appoints Lee McIntire CEO Amidst AI Data Center Expansion
By ThePip Desk
Fermi Inc. names Lee McIntire as new CEO, succeeding Toby Neugebauer, as the AI power firm pushes forward with a massive 17 GW data center project.
Fermi Inc. named Lee McIntire its new Chief Executive Officer on Tuesday, four months after co-founder Toby Neugebauer’s removal. McIntire, an independent director since September, now leads the AI power firm, a critical move for the company.
Key Figures
- New CEO: Lee McIntire
- Previous CEO removed: 4 months ago
- Planned data center capacity: 17 gigawatts
- Capacity comparison: 3 times New York City’s power consumption
The appointment follows a turbulent period for Fermi, which is actively developing a massive data-center campus in the Texas Panhandle. This ambitious project aims for an immense 17 gigawatts of capacity, roughly three times New York City’s power consumption, to meet surging demand for artificial intelligence infrastructure.
Neugebauer’s Departure and Aftermath
- April: Co-founder Toby Neugebauer was fired, partly due to difficulties in securing an anchor tenant for the facility.
- Post-firing: Neugebauer subsequently attempted to reorganize the company’s board.
- July: This reorganization effort was paused amidst internal challenges.
Despite these operational challenges, Fermi recently announced its first binding lease with TensorWave. The company’s ongoing endeavors also highlight growing concerns about the potential strain large data centers could place on local power grids and ecosystems.