Fusion’s best-funded bet raised another $1bn, and hired the banker who took Moderna public

Commonwealth Fusion Systems raised $1 billion in a new funding round, bringing its total to $4 billion, to advance fusion energy technology amid rising demand for clean power from AI data centers. The company hired Lorence Kim, former Moderna CFO, signaling potential plans for an IPO within a few years. CFS aims to achieve fusion breakeven with its SPARC reactor by 2027 and plans a commercial plant, ARC, targeting the early 2030s for grid connection.