Proxima Fusion raises €411 million from Google, RWE and others

UBS Wealth Management says artificial intelligence is moving beyond text generation into scientific research, opening investment opportunities across AI infrastructure, pharmaceuticals, nuclear fusion, industrial materials and utilities. The shift was highlighted by OpenAI's recent mathematical proof related to the Navier-Stokes equations, a centuries-old fluid dynamics problem and one of seven Millennium Prize Problems, which OpenAI tackled using 10,000 autonomous AI agents working in parallel for 88 hours before formalizing the proof with Lean, a system for machine-checked mathematical validation. In pharmaceuticals, multi-agent AI systems can simulate millions of protein variations in the cloud, and more than 170 AI-designed programs are already in development or clinical evaluation, including Phase III trials. In nuclear fusion, reinforcement-learning systems can predict plasma disruptions around 200 milliseconds before they occur and adjust magnetic coils thousands of times per second, while AI models in materials science can test millions of elemental combinations daily in search of properties for lighter, higher-density batteries, lower-heat computing hardware and potential room-temperature superconductors. The broader investment case centers on AI becoming a tool for automating scientific research rather than simply generating content, with companies exposed to AI infrastructure, pharmaceuticals, industrial materials and utilities positioned to benefit as these technologies move toward commercial applications.

Realta Fusion, the world's leading magnetic mirror fusion energy company, announced a strategic partnership with Madison Gas and Electric (MGE) and its parent company, MGE Energy, Inc., to explore joint development of a 200-megawatt electric (MWe) fusion energy power plant in Wisconsin. MGE Energy has made a direct equity investment in Realta and will provide equipment, engineering, technical support, and assistance with siting, permitting, interconnection, and financing. Realta CEO Kieran Furlong called the agreement a clear signal that fusion's time is coming, while MGE Chairman, President, and CEO Jeff Keebler emphasized the utility's commitment to net-zero carbon electricity by 2050. The plant would be a first-of-its-kind investment in next-generation carbon-free energy technology, and the partnership builds on Realta's recent plans to lease about 250,000 square feet at OM Station, the former Oscar Mayer site in MGE's service territory.