Nuclear Startup Pacific Fusion Nabs $900 Million in Funding
- Tranched deal would pay out if startup hits certain milestones
- Nuclear energy has become VC hotspot as AI guzzles power
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Pacific Fusion Corp., a power company that is attempting to create a nuclear fusion-based energy source, said it has raised over $900 million, putting the unknown startup near the top of a growing industry.
In a blog post Friday, the company said the Series A funding round was led by General Catalyst, with participation from Breakthrough Energy Ventures and an A-list group of individual investors, including Citadel founder Ken Griffin, Stripe co-founder Patrick Collison, venture capitalist John Doerr and Mustafa Suleyman, the head of Microsoft Corp.’s consumer AI business. General Catalyst’s Hemant Taneja, former Google Chief Executive Officer Eric Schmidt and Collison joined the company’s board of directors.