SoftBank founder Masayoshi Son predicts that by 2040, global data centers will need 3 terawatts of electricity.
In the short term, new power demand will still rely mostly on natural gas. But in about 15 years, nuclear fusion could become a cheaper, cleaner, and safer alternative.
This isn't just talk. SoftBank's Vision Fund 2 has invested in US fusion company Helion twice, participating in its Series F round in 2025 and Series G round in 2026.
Helion's latest round raised $465 million, giving it a valuation of $15.5 billion. Fusion hasn't yet achieved commercial power generation, so whether it can deliver at scale on schedule remains highly uncertain.
When asked about AI bubble concerns, Son called it an "extremely stupid question." He believes the massive data center investments will ultimately pay off.