Fermi Management
Management criteria checks 0/4
Fermi's CEO is Lee McIntire, appointed in Aug 2026, has a tenure of less than a year. directly owns 0.022% of the company’s shares, worth $906.29K. The average tenure of the management team and the board of directors is 0.5 years and 0.3 years respectively.
Key information
Lee McIntire
Chief executive officer
n/a
Total compensation
| CEO salary percentage | n/a |
| CEO tenure | no data |
| CEO ownership | 0.02% |
| Management average tenure | less than a year |
| Board average tenure | less than a year |
Recent management updates
Recent updates
Fermi Signs Its First Tenant, But Significant Execution Risks Remain
Summary Fermi remains a high-risk, speculative play despite a 78% post-IPO decline and a recent 20% rally on its first tenant announcement. FRMI's ambitious 17GW Texas data center campus faces major construction, financing, and execution risks, especially regarding nuclear buildout feasibility and cost overruns. The initial TensorWave lease is small (222 MW, $6.5B revenue, 15 years) but demonstrates the company can sign customers and supports $2-3/share in equity value. I maintain a Hold rating, as the track to hyperscaler deals and large-scale execution remains highly uncertain despite improved downside protection. Read the full article on Seeking Alpha
FRMI: First Project Matador Lease And Turbine Milestone Will Drive Repricing
Fermi's analyst price target has shifted lower, with new estimates around $17 that reflect updated assumptions on the timing of tenant signings, higher expected capex for turnkey requirements, and analysts' continued view of the stock as a high-risk, high-reward, pre-revenue story. Analyst Commentary Recent Street research on Fermi shows a mix of optimism about potential tenant signings and caution around execution risk, valuation resets, and the timing of cash flows for this pre revenue story.FRMI: Future Lease Win At Project Matador Will Drive Repricing
The analyst price target for Fermi has been cut from $23.11 to $19.00 as analysts factor in continued contract timing uncertainty and recent target reductions from $29 to $17 and from $20 to $11, even as they acknowledge potential upside if a large initial lease is secured. Analyst Commentary Recent research on Fermi highlights a split between optimism around its potential data center leases and caution around execution risk, reflected in the series of reduced price targets and rating changes.Fermi (FRMI) Stock Could Be 65.9% Undervalued After OpenAI Lease Reports
Fermi (FRMI) stock has been in focus after reports that OpenAI may lease capacity at its Project Matador campus, while a parallel proxy fight with former CEO Toby Neugebauer adds a governance angle for investors. See our latest analysis for Fermi. The recent OpenAI headlines and the escalating proxy dispute have coincided with a sharp swing in sentiment toward Fermi. The stock’s 7 day share price return of 14.37% and 30 day share price return of 20.31% contrast with a weaker year to date...
Gas Power Permits And Tenant Delays Will Eventually Support Large Scale AI Infrastructure
Catalysts About Fermi Fermi develops and finances large scale power and data center infrastructure to serve energy intensive computing and artificial intelligence customers. What are the underlying business or industry changes driving this perspective?Surging AI Power Demand And Scarce Grid Capacity Will Support Long Term Tenant Contracts
Catalysts About Fermi Fermi is building a large scale private power grid and related infrastructure to supply electricity to energy intensive tenants such as data centers and chip ecosystem players. What are the underlying business or industry changes driving this perspective?
Large Scale AI Power Infrastructure Will Transform Long Term Cash Flows And Tenant Demand
Catalysts About Fermi Fermi develops large scale power and data infrastructure to support tenants focused on artificial intelligence and high intensity computing. What are the underlying business or industry changes driving this perspective?CEO
Lee McIntire (77 yo)
Mr. Lee Alan McIntire is CEO & Director of Fermi Inc. from August 2026. Mr. McIntire was Independent Director of Fermi Inc. from September 30, 2025 to August 2026. Mr. McIntire serves as Director of Spur P...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-President & Chief Operating Officer | less than a year | US$134.18m | 3.85% $ 157.9m | |
| Chief Site Officer | less than a year | US$134.18m | 1.41% $ 57.7m | |
| CEO & Director | no data | no data | 0.022% $ 906.3k | |
| Co-President & Chief Commercial Officer | less than a year | no data | no data | |
| Chief Financial Officer | less than a year | no data | no data | |
| Vice President of Investor Relations | no data | no data | no data | |
| VP of Nuclear Supply Chain & Compliance | no data | no data | no data | |
| General Counsel | less than a year | no data | no data | |
| Chief Power Officer & Director | less than a year | no data | 1.83% $ 75.2m | |
| Chief Nuclear Officer | less than a year | no data | 0.21% $ 8.6m | |
| Executive Vice President of Capital Markets | no data | no data | no data | |
| Director of Investor Relations | no data | no data | no data |
Experienced Management: FRMI's management team is not considered experienced ( 0.5 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | less than a year | no data | 0.022% $ 906.3k | |
| Chief Power Officer & Director | less than a year | no data | 1.83% $ 75.2m | |
| Independent Chairman of the Board | less than a year | no data | 0.14% $ 5.8m | |
| Independent Director | less than a year | no data | 0.039% $ 1.6m | |
| Director | less than a year | no data | no data | |
| Director | less than a year | no data | no data | |
| Independent Director | less than a year | no data | no data |
Experienced Board: FRMI's board of directors are not considered experienced ( 0.3 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/17 04:45 |
| End of Day Share Price | 2026/08/14 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
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Analyst Sources
Fermi Inc. is covered by 11 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Andrew Fisher | Berenberg |
| Brett Knoblauch | Cantor Fitzgerald & Co. |
| Derek Soderberg | Cantor Fitzgerald & Co. |