Next-Gen Nuclear Funding Looks Livelier Than Ever Following Inertia鈥檚 $450M Raise

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Next-Gen Nuclear Funding Looks Livelier Than Ever Following Inertia鈥檚 $450M Raise

February 12, 2026

Illustration of quantum symbol with coins.

Joanna Glasner

As global energy demand continues to , driven by both rising household consumption and fast-expanding AI infrastructure, startup investors are increasingly turning to nuclear fusion and fission startups to supply our power-hungry era.

They鈥檙e not afraid to write big checks either. The latest evidence of this was a $450 million Series A that Livermore, California-based fusion power startup Wednesday.

led the round for the 2-year-old company, joined by , and other backers. Inertia plans to use the funds toward a fusion pilot at , which will involve building the world鈥檚 most powerful laser and a production line to mass manufacture .

The financing is the latest in a string of recent, very large deals around both fusion and nuclear fission. Per 禁漫天堂 data, both funding and deal volume for the space hit a high last year, and 2026 is off to a promising start as well.

Headline deals, leading fundraisers

It鈥檚 mostly funding announcements, but not exclusively. On the fusion front, the highest profile recently proposed deal was 鈥檚 surprising announcement in December that it plans to combine with fusion company in what TMTG called a stock transaction valued at more than $6 billion.

The deal is a long time coming for TAE, which was founded in 1998 and is the oldest operating venture-backed fusion energy company in the 禁漫天堂 dataset. The company has seen at least $1.5 billion in prior known funding to date.

Other fusion companies have also been prodigious fundraisers. The leader is , with $2.86 billion in equity funding, while other standouts include ($1 billion), ($900 million) and ($357 million).

Nuclear fission is another hot area for investment, with over $2.5 billion in funding last year, per 禁漫天堂. The largest deal was a $700 million Series D in late November for , a developer of advanced nuclear reactor and fuel technology.

Activity looks to be accelerating further this year, with more than $270 million in funding, including a $140 million round two weeks ago for Tennessee-based , which manufactures advanced nuclear fuel for new reactors.

Public markets too

Public investors also appear receptive. , which develops nuclear reactors, went public in 2024 through a merger with a SPAC launched by . It鈥檚 down quite a bit from the height scaled late last year, but still had a recent market cap around $10 billion.

Other SPAC deals have also popped up, including , which wants to develop energy parks with small modular reactors to meet data center demand, and , a developer of light-water micro-modular reactors. Meanwhile , a developer of small modular nuclear plants, completed a SPAC merger in October.

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