Google and RWE invested 411 million euros in nuclear fusion startup Proxima Fusion
German startup Proxima Fusion raised 411 million euros (469 million dollars) from investors including energy company RWE AG and Alphabet Inc. (Google) raising its valuation to 2.4 billion euros. The company is developing a nuclear fusion power plant that it plans to launch in the 2030s.
AI-processed from Bloomberg Tech; edited by Hamidun News
German startup Proxima Fusion has raised €411 million ($469 million) in a new funding round led by energy giant RWE AG and Alphabet Inc., the parent company of Google, bringing the company's valuation to €2.4 billion. The company is developing a nuclear fusion power plant, which it expects to commission in the 2030s.
Who invested in the fusion startup
The round includes RWE AG — one of Germany's largest energy conglomerates — and Alphabet Inc., Google's parent company. The participation of a major energy player and one of the world's leading tech giants highlights growing interest from traditional energy and big tech in nuclear fusion as a source of virtually unlimited and low-carbon energy.
- Round size — €411 million ($469 million)
- New company valuation — €2.4 billion
- Investors include RWE AG and Alphabet Inc. (Google)
- Goal — nuclear fusion power plant, commissioning in the 2030s
- Proxima Fusion — a German startup
Why Google is investing in nuclear fusion
The interest of tech giants in nuclear fusion energy in recent years is primarily explained by the rapidly growing energy consumption of data centers that train and power artificial intelligence models. Major cloud providers are already signing long-term agreements with nuclear and promising energy startups to secure sufficient stable, low-carbon energy for decades to come. Nuclear fusion in theory could provide an almost unlimited source of energy without the long-lived radioactive waste characteristic of traditional nuclear plants — but there are no commercially operating reactors in the world yet.
What this means
The investment shows that the race for AI power is extending beyond traditional nuclear generation and solar-wind capacity: major businesses are willing to finance technologies with payback horizons of a decade or more, just to meet the future power demands of data centers.
Frequently asked questions
How much did Proxima Fusion raise?
The company raised €411 million ($469 million) in the new round, bringing its valuation to €2.4 billion.
Who invested in Proxima Fusion?
Investors in this round include the German energy conglomerate RWE AG and Alphabet Inc., Google's parent company.
When will
Proxima Fusion's nuclear fusion power plant be operational?
The company expects to commission the power plant in the 2030s, though no exact date has been announced.
- Oct 28, 2026A 2015 CNN Beat GPT-6 Astra and Claude Fable 5.1 at Skin Cancer Diagnosis
- Oct 28, 2026Google taught an LLM to “sleep”: SLEEP consolidates knowledge into weights, up to 10 million tokens
- Oct 28, 2026Keystone removes the model name from code: open-source LLM gateway adds 0.64 ms
- Oct 28, 2026Wired Tested 6 AI Agents in a Day: Dots Leads, Gemini Spark Fails at Lunch
Key Questions Answered
How much did Proxima Fusion raise?
The company raised €411 million ($469 million) in the new round, bringing its valuation to €2.4 billion.
Who invested in Proxima Fusion?
Investors in this round include the German energy conglomerate RWE AG and Alphabet Inc., Google's parent company.
When will Proxima Fusion's nuclear fusion power plant be operational?
The company expects to commission the power plant in the 2030s, though no exact date has been announced.
Build & Ship Production AI Agents Without Boilerplate Code
Start your free 72-hour trial at Hamidun Academy (academy.hamidun.com) — interactive lessons on Claude Code & Cursor, live Tech Radar, and production agent templates.
The AI world, distilled — once a week
Seven stories that actually mattered, hand-picked. No noise, no reposts, no press releases.
Done! Check your inbox for a confirmation.