Nuclear fusion seems hot right now — but how close is fusion power?

Canada’s General Fusion announced a world‑record neutron yield in November 2024 using its magnet‑directed target fusion (MTF) system, while China’s EAST reactor surpassed a previous plasma‑density limit in December 2025, promising smaller, cheaper devices. In Canada, a $33 million Centre for Fusion Energy in Ontario was launched in February 2024, backed by federal, provincial and Stellarex funding. Globally, the International Thermonuclear Experimental Reactor (ITER) in France is a €13 billion (≈$21 billion CAD) collaboration of 12 nations, aiming to output 500 MW of fusion power from 50 MW of electricity by the late 2030s, enough to serve 250,000 homes. Private investment in fusion startups has exceeded $10 billion, with names such as Microsoft, Google, Bill Gates, Jeff Bezos, and Chevron.