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Forbes Daily Briefing

Sam Altman’s Fusion Power Startup Is Eyeing Trump’s $500 Billion AI Play

Forbes Daily Briefing

Forbes

Careers, Business, News, Entrepreneurship

4.612 Ratings

🗓️ 14 February 2025

⏱️ 5 minutes

🧾️ Download transcript

Summary

Few energy startups are better positioned to cash in on Stargate than Helion, which has raised major funding from the AI initiative’s leaders, and signed a contract with another.

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Transcript

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0:00.0

Here's your Forbes Daily Briefing, bonus story of the week. Today on Forbes, Sam Altman's

0:07.6

Fusion Power startup is eyeing Trump's $500 billion AI play. Stargate, the $500 billion

0:15.5

effort to secure American AI supremacy for perpetuity, backed by OpenAI's Sam Altman and SoftBank founder

0:22.4

Masa Sun, among others, will require a gargantuan amount of energy to power it.

0:28.2

As it happens, Altman and Sun are backing a startup that says it can provide it.

0:33.6

It's a fusion energy company called Helion that has recently raised $425 million in a funding

0:39.2

round backed by SoftBank.

0:41.8

Prior to that, it banked $375 million from Altman, who serves as Helion's chairman.

0:48.2

It was the single largest investment check the AI billionaire has written so far.

0:53.0

And Microsoft, a Stargate partner, was the first company

0:56.1

to contract with Helion for a fusion power plant by 2028, a timeline that has some physicists

1:02.2

skeptical. Stargate has not yet selected an energy partner, though it is considering a few,

1:08.3

a person familiar with the effort told Forbes.

1:14.9

At the end of January, OpenAI issued a call on its behalf for, quote,

1:18.8

proposals for large contiguous power footprints in the United States.

1:24.5

OpenAI said it would select contracts by early April. The company declined to comment.

1:30.0

Helion's CEO, David Curtley, declined to comment on whether it was pursuing a contract with Stargate, though he noted it would be a great customer.

1:33.5

He told Forbes, quote, we founded Helion to provide this baseload, industrial scale, clean power,

1:39.9

and that's exactly perfect for data centers.

1:43.1

Referencing Stargate, he said, quote, we would be perfect for a

1:46.8

project like it. Microsoft and SoftBank declined to comment. Stargate is President Trump's most

1:53.9

ambitious AI announcement yet, a private partnership with plans to build massive data centers

...

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