SoFi Blog

Nuclear Fusion

TAE Technologies was founded in 1998. Its mission is to use power generated from nuclear fusion to produce clean energy. Some industry experts contend the technology could potentially provide nearly unlimited carbon-free energy. As such, it could be a scalable solution to meet low emissions goals.

Since 2014, the California-based startup has partnered with Google (GOOGL), which shared its artificial intelligence and computational power. Now, Google is extending its investment in TAE by taking part in a fundraising round.

Google and Chevron are In

The tech giant will join Chevron (CVX) and Japanese investment company Sumitomo Corporation (SSUMF) of Americas in a $250 million capital raise. The latest funding brings the total raised by TAE to $1.2 billion.

Sumitomo’s investment follows last October’s announcement that TAE had partnered with Japan’s National Institute for Fusion Science. Japan currently relies mostly on non-renewable forms of energy such as coal, oil, and natural gas. Like many other countries, the island nation has ambitious renewable energy goals to be met by 2030.

Big Plans for 2025 and 2030

TAE plans to use the new funding to support building a next generation fusion machine, called Copernicus. Its target completion date is 2025. By 2030, the company envisions it will have developed a commercial scale fusion reactor with the capability to deliver power to the grid.

Amid the current rising interest in renewables from both consumers and governments, the company seems to have good timing. What’s more, their technology comes without the same radioactive waste produced by the older, fission-based technology. That may win over people who failed to support nuclear technology in the past.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
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The Terms

Ecommerce giant Amazon (AMZN) is continuing its push into the healthcare space. Yesterday, the company announced it had a deal in place to acquire primary healthcare provider One Medical (ONEM) in an all-cash deal.

The terms value One Medical at around $3.9 billion, which translates to $18 per share. If the deal closes, it will rank as Amazon’s third-largest acquisition to date, behind the $13.7 billion purchase of Whole Foods, and the more recent acquisition of MGM. One Medical is backed by Alphabet’s (GOOGL) GV unit, which had been known as Google Ventures.

Subscription Model

Because of its monthly subscription model, One Medical has been nicknamed the Netflix (NFLX) for healthcare. For $199 per month customers get access to 24/7 telehealth services via video, as well as next-day appointments at 188 medical offices.

One Medical went public in 2020 and has since opened locations in 25 markets. The company counts 767,000 members as of its most recent quarter. It posted a first-quarter loss of $90.9 million on $254.1 million in revenue.

Amazon Care

For years, Amazon has been building up its presence in the healthcare space. It opened Amazon Pharmacy in November 2020 and subsequently expanded its own telehealth service known as Amazon Care. Executives say the company intends to reinvent the healthcare experience.

In 2018, Amazon, JPMorgan Chase (JPM), and Berkshire Hathaway (BRK.A) launched a joint venture by the name of Haven, in an effort to leverage new technology and address healthcare costs. After being set up at a combined cost of $100 million, it was shut down due to issues with data sharing, bureaucracy, and competition. Amazon’s latest acquisition is another attempt to get it right. According to the Centers for Medicare & Medicaid Services, national health spending will grow 5.4% on average through 2028 to reach $6.2 trillion — so it’s not hard to see why the ecommerce giant is so motivated.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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Google and Chevron were key investors in the capital raise, with Japanese firm Sumitomo also participating.

Americans are shaking off pandemic restrictions, and they’re ready to travel. Airlines keep struggling to meet demand.

Amazon hopes to reinvent the healthcare experience and just acquired One Medical for around $3.9 billion.