FUNDING◐ DEVELOPINGM · Material▲ Rising
Proxima Fusion hits $2.7B as Google enters Europe’s reactor race
Jul 7, 2026SOURCE: pitchbook.com
SO WHAT
The window is shifting toward whoever can convert capital into real energy capacity before compute demand outruns the grid.
Germany’s Proxima Fusion has reached a $2.7 billion valuation, with Google backing Europe’s fusion push. AI’s appetite for power and sovereignty concerns are pulling capital toward the physical layer.
This is Negative Resistance’s reframed reading of a reported signal. The headline and analysis above are our interpretation through the thousand-day-window lens. The original reporting lives at the source linked above.