Fermi Inc. appoints new CEO and enters Hillcore power deal

Fermi Inc. (FRMI) has appointed veteran infrastructure executive Lee McIntire as Chief Executive Officer. This leadership change coincides with a new power development partnership with Hillcore at the company’s Project Matador campus in Texas.

Following a period of significant stock decline, the company is positioning itself to meet rising power demands driven by artificial intelligence workloads through multi-gigawatt gas generation plans. While some analysts have lowered ratings or price targets, Parsifal Capital Management LP recently established a significant position in the company, purchasing 1,000,000 shares valued at approximately $9.16 billion during the second quarter.