Fermi Unveils ‘Fermi 2.0’ Strategy Amid Leadership Shake-Up

Fermi Inc. has announced a sweeping strategic overhaul under its “Fermi 2.0” initiative, marking a transition from startup to scaled enterprise while reshaping its leadership and governance structure.

The most immediate change is at the top: co-founder Toby Neugebauer has stepped down as CEO, with Lead Independent Director Marius Haas assuming the role of Chairman. In the interim, the company has created an “Office of the CEO,” led by Co-Presidents Jacobo Ortiz Blanes and Anna Bofa, who will oversee day-to-day operations as a formal search for a new chief executive gets underway.

The company is also in the process of appointing an interim CFO following the resignation of Miles Everson, who will remain involved as a board director. Meanwhile, Jeffrey S. Stein has joined the board, adding further experience in corporate strategy and energy markets.

The “Fermi 2.0” framework is designed to reposition the company as a mature energy infrastructure platform, with a focus on governance, capital formation, and operational scalability. The company said it plans to deepen partnerships—particularly with the Texas Tech University System—while securing commitments from initial client-tenants and attracting institutional capital, including sovereign investors.

At the core of this strategy is Project Matador, Fermi’s flagship development in Texas, which aims to build a massive 17 GW private “HyperGrid” campus designed to power next-generation artificial intelligence infrastructure. The project integrates multiple energy sources, including combined-cycle natural gas, nuclear power, solar, and battery storage, reflecting a broader industry shift toward hybrid, high-reliability energy systems tailored for data-intensive applications.

As part of its evolution, Fermi will establish a new corporate headquarters in Dallas while expanding its operational presence in Amarillo, closer to the Project Matador site. The move underscores Texas’s growing role as a hub for large-scale energy and data infrastructure, particularly as hyperscalers seek secure, high-capacity power solutions.

Fermi’s repositioning comes amid surging power demand from artificial intelligence and data center expansion, which is reshaping energy investment strategies globally. Companies are increasingly pursuing vertically integrated or private-grid solutions to ensure reliability and scalability—especially in regions like Texas, where deregulated markets and resource diversity offer competitive advantages.