Ai

Proxima Fusion raised 411 million euros at a 2.4 billion euro valuation, the largest fusion funding round in European history, with Google and RWE joining as strategic backers. The Munich company is building Alpha, a stellarator reactor targeting net energy in the early 2030s, ahead of a commercial plant called Stellaris. The round signals that Big Tech now sees fusion as a direct hedge against the power demands of AI data centers.