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COMMONWEALTH FUSION SYSTEMS
Commonwealth Fusion Systems
Fusion energy · United States · Founded · 2018 · ≈ · 1,000 · employees

Commonwealth Fusion Systems Company Profile

Private

Commonwealth Fusion Systems is a private company building in fusion energy, founded in 2018. Investors last valued the company at $5B. The stock is not listed on any public market.

ProfileValuationFundingCompetitorsStock & IPOHow to invest
Commonwealth Fusion Systems at a glance
Raised across rounds
$5.8B
8 rounds
IPO status
Private
no listing announced
Nearest Canborsa market
CL—
CL-PERP · live
Valuation history

Commonwealth Fusion Systems valuation history

One company valuation: $5B.

Undated: Series A at —; Undisclosed Round at —; Recent Round at —; Series A2 at —; Seed at —.
Funding history

Commonwealth Fusion Systems funding rounds — every disclosed raise

Round
Date
Amount
Valuation
Lead investors
Δ valuation
Series B
Nov 2021
$1.8B
—
Temasek Holdings, Google, Bill Gates, Eni
—
Series B2
Aug 2025
$863M
—
—
—
Equity
Jul 2026
$1B
—
—
—
Series A
—
$115M
—
Eni, Breakthrough Energy Ventures, Khosla Ventures
—
Undisclosed Round
—
$863M
—
—
—
Recent Round
—
$1B
—
—
—
Series A2
—
$84M
—
Temasek, Equinor, Devonshire Investors
—
Seed
—
$50M
—
Eni
—
Commonwealth Fusion Systems · investors

Investors

EniLEADTemasekLEADEEquinorLEADDDevonshire InvestorsLEADBreakthrough Energy VenturesLEADKhosla VenturesLEADTemasek HoldingsLEADGoogleLEADBBill GatesLEADNvidiaPpension fundsSsovereign wealth funds
Will Commonwealth Fusion Systems IPO?
Founded
2018
Nov 2021
Series B
Jul 2026
Equity
IPO
Not announced
No filing has been made.
Commonwealth Fusion Systems — the private market
Last valuation$5B
Total raised$5.8B
Lead investors
EniTemasekEquinorDevonshire Investors
IPO statusNot announced
Founded · HQ2018 · United States
Employees≈ 1,000
Next price updatethe next funding round or secondary sale
Between roundsno daily price and no order book
About Commonwealth Fusion Systems

Commonwealth Fusion Systems is an American fusion power company founded in 2018 as a spin-off from the MIT Plasma Science and Fusion Center, headquartered in Devens, Massachusetts. It is building the SPARC tokamak using high-temperature superconducting magnets made from a proprietary tape called VIPER, technology meant to let fusion reactors shrink to a commercially viable size.

The company plans a grid-scale ARC power plant in Chesterfield County, Virginia, expected to produce about 400 megawatts by the early 2030s, and has signed a direct corporate power purchase agreement with Google for 200 megawatts of that plant's output.

The money screen · ranked by accessibility

How to get Commonwealth Fusion Systems exposure today

1Funds that hold private namesPublic wrappers

Listed funds carry late-stage private names. A fund's latest schedule of investments shows whether it holds Commonwealth Fusion Systems.

Often trade at a premium or discount to NAV.

Any brokerage account
2Secondary marketplacesPrivate shares

Platforms match existing holders with buyers. Commonwealth Fusion Systems availability at any moment is set by the holders.

High minimums, transfer approval, company right-of-first-refusal.

Accredited only
3Follow the companyCompanies directory

Valuations, rounds and IPO status for every company in the directory — Commonwealth Fusion Systems included.

No account needed

Commonwealth Fusion Systems stock — frequently asked questions

What is Commonwealth Fusion Systems's valuation?›

The last valuation is $5B.

Who has invested in Commonwealth Fusion Systems?›

Lead investors for each round are in the funding timeline.

Who are Commonwealth Fusion Systems's competitors?›

The closest fusion energy peers are on the competitors page.

How can I get exposure to Commonwealth Fusion Systems?›

The routes section explains what is realistically available for a company at this stage.

Is Commonwealth Fusion Systems publicly traded?›

No. Commonwealth Fusion Systems is a private company; its shares do not trade on a public exchange.

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