Alphabet participated in a €411 million funding round for German startup Proxima Fusion. The company aims to construct Europe’s first commercial fusion power plant.
The investment values the startup at approximately €2.4 billion. This transaction marks one of the largest private technology investments in Europe this year.
Alphabet intends to secure long-term, carbon-free energy for its energy-intensive AI and data center operations. Analysts identify power availability as the primary constraint for the expansion of major tech firms.
Proxima specializes in stellarator-type fusion devices. This investment complements Google’s existing fusion energy commitments in North America.