Scoop: OpenAI bets on Altman-backed fusion startup

Driving the news: OpenAI could secure a guaranteed portion of Helion's production, initially 12.5%, per the source.

• The talks center on OpenAI receiving the equivalent of 5 gigawatts by 2030, scaling to 50 gigawatts by 2035.

Between the lines: OpenAI CEO Altman, who is an investor in Helion, has stepped down as Helion's board chair and is no longer involved in the company's board, the source told Axios.

• Altman has also recused himself from the deal discussions, according to the same source.
• Altman holds a sizable stake in Helion, though the size has not been disclosed. He led the company's $500 million Series E round in 2021. Helion closed a further $425 million funding round in January 2025.
• Helion is also backed by SoftBank, Peter Thiel's Mithril Capital and Facebook co-founder Dustin Moskovitz.

How it works: Fusion energy — which creates energy using the same process as the Sun — could be a key step in giving AI companies an abundant clean energy source to match its needs.

• Helion believes it is on the cusp of "scientific breakeven" — a key step to reaching the point where the company's fusion process can generate more energy than it consumes, the source said.
• No private company has yet achieved this milestone.

Yes, but: The talks with OpenAI involve the basic framework of an agreement, with many conditions yet to be fulfilled, including the selection of a site for Helion to produce the energy.

• An OpenAI representative declined to comment.

The big picture: Google has several agreements with Helion rival Commonwealth Fusion Systems, including a deal to buy 200 megawatts worth of power.

• Helion also inked a power purchase deal with Microsoft in 2023, calling for it to deliver 50 megawatts to the software giant.

What we're watching: Whether Helion can hit scientific breakeven on a timeline that makes those 2030 and 2035 power commitments a reality.