After decades of cautious optimism and scientific experimentation, fusion energy is now being taken seriously not only by physicists and policymakers — but increasingly by investors and global corporations. In an article published by the World Economic Forum (WEF), fusion was hailed as “the most exciting human discovery since fire,” with the potential to dramatically reshape life on Earth through near-limitless, zero-carbon energy.
As scientists and private-sector leaders edge closer to unlocking commercially viable fusion, a growing number of companies — including tech giants and energy conglomerates — are positioning themselves to benefit from what may be the next revolution in clean power. While there are a host of exciting and revolutionary technologies currently taking center stage in the investment landscape, fusion is shaping up to be one of the most promising.
While there are only a few pure-play fusion companies currently publicly traded, strategic investments, supply chain partnerships, and power purchase agreements are opening the door for investors to gain early exposure to this breakthrough technology.
What Fusion Energy Means for the World
Fusion energy replicates the process that powers the sun — fusing hydrogen atoms to release vast amounts of energy. Unlike nuclear fission, fusion produces no long-lived radioactive waste and carries no meltdown risk. The energy source is abundant, safe, and emission-free.
As the WEF article outlines, fusion could fundamentally alter:
- Global water access through energy-intensive desalination,
- Carbon emissions via deep industrial decarbonization,
- Food production through vertical farming,
- Transportation and EV infrastructure, and
- Manufacturing by reshaping energy-dependent supply chains.
The WEF also emphasizes the ripple effects fusion could have on climate resilience, economic development, and geopolitical stability. For example, fusion could drastically reduce reliance on fossil fuels from geopolitically sensitive regions, while also enabling the reshoring of manufacturing thanks to locally abundant clean power.
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How to Invest in the Fusion Future — Today
While investors can’t yet buy stock in private fusion startups like TAE Technologies, Helion Energy, or Commonwealth Fusion Systems, several publicly traded companies have already placed strategic bets on the sector.
Here are some of the most notable:
Tech behemoth Alphabet has partnered with TAE Technologies for over a decade, leveraging its computing resources to advance fusion models. In 2022, Google made a direct investment in TAE, helping to accelerate its push toward grid-scale fusion by the early 2030s. As one of the largest backers of artificial intelligence (AI) computing, Alphabet’s interest in clean, stable power sources like fusion aligns with its long-term infrastructure needs.
Chevron (CVX)
Chevron has moved beyond oil and gas, investing in Zap Energy in 2020 and joining Google in 2022 with an additional stake in TAE Technologies. These moves position Chevron as one of the few traditional energy companies actively backing fusion innovation — a potential hedge against long-term fossil fuel decline.
Cenovus Energy (CVE)
Canadian energy firm Cenovus made an early move into the fusion space by backing General Fusion, which aims to achieve critical milestones in 2025 and 2026. The goal: fast-tracking commercial fusion plants capable of industrial-scale output.
Nucor (NUE)
Steelmaker Nucor is not only investing in fusion — it plans to use it. In 2023, Nucor committed $35 million to a partnership with Helion Energy, which will build a 500-megawatt fusion power plant to directly power one of its U.S. steel facilities. It’s a clear signal that heavy industry sees fusion as a real-world solution to decarbonize operations.
Microsoft (MSFT)
While Microsoft hasn’t taken an equity stake in fusion companies, it made headlines as the first company to agree to purchase fusion-generated electricity. In a groundbreaking deal with Helion, Microsoft committed to buying 50 megawatts of fusion power starting in 2028. As its energy demands grow to support AI and cloud infrastructure, the company may expand this relationship — setting a powerful precedent for corporate energy procurement.
Eni (E)
Italian energy company Eni has taken a global approach, investing $50 million in Commonwealth Fusion Systems (CFS) — an MIT spinoff using magnetic confinement technology. The investment supports CFS’ push to build the first commercially viable fusion plant and integrate it into the grid.
Fusion Stocks: What Investors Need to Know
While fusion energy’s full commercial rollout is likely still several years away, the momentum is accelerating. Venture capital and institutional capital are flowing into the sector, and real-world partnerships — like the Microsoft-Helion power deal — mark critical turning points from theory to practice.
Here’s what makes fusion appealing to long-term investors:
- Massive addressable market: The global electricity market is projected to reach over $6 trillion annually by 2040, according to IEA estimates.
- Cross-sector impact: Fusion could affect everything from utilities and agriculture to cloud computing and manufacturing.
- Regulatory tailwinds: Governments worldwide are building incentive frameworks for clean baseload power.
- Energy security: Fusion could reduce dependence on unstable fossil fuel supply chains, especially in the wake of rising U.S.-China trade tensions.
Final Thoughts: A Historic Investment Frontier
Fusion is no longer just a physics experiment. It’s a multi-sector transformation in motion — and the investment window is opening.
While the lack of a pure-play fusion stock may frustrate some, investors can already build exposure through established companies participating in — or enabling — fusion’s future.
As the World Economic Forum puts it, fusion is poised to “change the world.” For investors with vision, patience, and a taste for high-impact innovation, it may also change the future of long-term returns.
On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
