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Leadership replacement paired with a binding customer lease reduces execution risk and increases financing visibility; material stock move (~23%) reflects reevaluation of execution potential and near-term revenue visibility.
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Fermi appointed Lee McIntire as CEO, signaling a shift toward execution-focused leadership. The company also secured TensorWave's binding lease for Project Matador in Amarillo, boosting near-term revenue visibility and financing prospects. The stock has risen about 23% on the news, following an April leadership shakeup that removed co-founder Toby Neugebauer and CFO Miles Everson.
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