Commonwealth Fusion Systems Signs Letter of Intent for Proposed $85M CHIPS Act Award, With Government Stake

Fusion developer Commonwealth Fusion Systems signed a letter of intent with the U.S. Department of Commerce for a proposed $85 million CHIPS Act award, under which the government would take an equity stake in the company. The award is not finalized, and the definitive agreement could differ. The stated aim is to accelerate next-generation semiconductor R&D for fusion power.