{"id":2418,"date":"2026-02-10T09:14:15","date_gmt":"2026-02-10T01:14:15","guid":{"rendered":"https:\/\/www.anxinlirong.com\/?p=2418"},"modified":"2026-02-24T10:20:39","modified_gmt":"2026-02-24T02:20:39","slug":"%e5%85%a8%e7%90%83%e9%a6%96%e4%b8%aa%e6%a0%b8%e8%81%9a%e5%8f%98ipo%e8%a6%81%e6%9d%a5%e4%ba%86","status":"publish","type":"post","link":"https:\/\/www.anxinlirong.com\/?p=2418","title":{"rendered":"\u5168\u7403\u9996\u4e2a\u6838\u805a\u53d8IPO\u8981\u6765\u4e86"},"content":{"rendered":"

\u672c\u6587\u6765\u6e90\uff1a<\/span>\u5168\u7403\u9996\u4e2a\u6838\u805a\u53d8IPO\u8981\u6765\u4e86<\/span><\/a><\/p>\n

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\u4f30\u503c\u8fd1\u767e\u4ebf\u3002<\/span><\/strong><\/p>\n

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2026\u5e74\uff0c\u6838\u805a\u53d8\u5c06\u4ece\u6982\u5ff5\u8d70\u5411IPO\u4e86\u3002<\/p>\n<\/section>\n

\u7f8e\u56fd\u603b\u7edf\u7279\u6717\u666e\u65d7\u4e0b\u7684\u7279\u6717\u666e\u5a92\u4f53\u79d1\u6280\u96c6\u56e2\uff08DJT\uff09\u65e5\u524d\u53d1\u5e03\u516c\u544a\u79f0\uff0c\u5df2\u4e0e\u83b7\u5f97 Alphabet \u652f\u6301\u7684\u7f8e\u56fd\u6838\u805a\u53d8\u80fd\u6e90\u516c\u53f8 TAE Technologies \u7b7e\u7f72\u6700\u7ec8\u5408\u5e76\u534f\u8bae\uff0c\u53cc\u65b9\u5c06\u901a\u8fc7\u5168\u80a1\u7968\u4ea4\u6613\u5b8c\u6210\u5408\u5e76\uff0c\u4ea4\u6613\u603b\u4ef7\u503c\u8d85\u8fc7 60 \u4ebf\u7f8e\u5143\u3002<\/p>\n

\u4e0eDJT \u4e0d\u540c\uff0c\u52a0\u62ff\u5927\u6838\u805a\u53d8\u6280\u672f\u516c\u53f8 General Fusion \u7684\u5168\u90e8\u4e1a\u52a1\u51e0\u4e4e\u90fd\u56f4\u7ed5\u6838\u805a\u53d8\u672c\u8eab\u5c55\u5f00\u30021 \u6708 22 \u65e5\uff0cGeneral Fusion \u5ba3\u5e03\u4e0e\u7279\u6b8a\u76ee\u7684\u6536\u8d2d\u516c\u53f8 Spring Valley Acquisition Corp. III\u7b7e\u7f72\u6700\u7ec8\u4e1a\u52a1\u5408\u5e76\u534f\u8bae\uff0c\u6574\u4f53\u4f30\u503c\u7ea6 10 \u4ebf\u7f8e\u5143\u3002\u8be5\u4ea4\u6613\u9884\u8ba1\u4e8e 2026 \u5e74\u5e74\u4e2d\u5b8c\u6210\u4ea4\u5272\u3002\u82e5\u8fdb\u5c55\u987a\u5229\uff0c\u5408\u5e76\u540e\u7684\u516c\u53f8\u5c06\u5728\u7eb3\u65af\u8fbe\u514b\u4e0a\u5e02\uff0c\u6709\u671b\u6210\u4e3a\u5168\u7403\u9996\u5bb6\u767b\u9646\u516c\u5f00\u8d44\u672c\u5e02\u573a\u7684\u7eaf\u6838\u805a\u53d8\u80fd\u6e90\u516c\u53f8\u3002<\/p>\n

\u53ef\u63a7\u6838\u805a\u53d8\u7684\u6838\u5fc3\u5438\u5f15\u529b\uff0c\u5728\u4e8e\u5176\u51e0\u4e4e\u65e0\u9650\u7684\u80fd\u6e90\u6f5c\u529b\u3002\u6309\u5f53\u524d\u5168\u7403\u80fd\u6e90\u6d88\u8d39\u6c34\u5e73\u6d4b\u7b97\uff0c\u6838\u805a\u53d8\u71c3\u6599\u8db3\u4ee5\u652f\u6491\u4eba\u7c7b\u4f7f\u7528\u6570\u4ebf\u5e74\uff0c\u4f7f\u5176\u88ab\u89c6\u4e3a\u5e94\u5bf9\u6c14\u5019\u53d8\u5316\u4e0e\u80fd\u6e90\u5b89\u5168\u95ee\u9898\u7684\u7ec8\u6781\u65b9\u6848\u4e4b\u4e00\u3002<\/p>\n

\u8d44\u672c\u6b63\u5728\u5feb\u901f\u6d8c\u5165\u8fd9\u4e00\u201c\u7ec8\u6781\u80fd\u6e90\u201d\u8d5b\u9053\u3002\u300a2025 \u5e74\u5168\u7403\u805a\u53d8\u4ea7\u4e1a\u62a5\u544a\u300b\u663e\u793a\uff0c\u8fc7\u53bb\u4e94\u5e74\u95f4\uff0c\u5168\u7403\u6838\u805a\u53d8\u9886\u57df\u7684\u603b\u6295\u8d44\u989d\u5df2\u4ece 2021 \u5e74\u7684 19 \u4ebf\u7f8e\u5143\u589e\u957f\u81f3 97 \u4ebf\u7f8e\u5143\uff0c\u76f8\u5173\u4f01\u4e1a\u6570\u91cf\u8fbe\u5230 53 \u5bb6\uff0c\u8f83 2023 \u5e74\u589e\u957f 143%\u3002\u5728\u4e2d\u56fd\uff0c\u4eca\u5e741\u670812\u65e5\uff0c\u53ef\u63a7\u6838\u805a\u53d8\u521d\u521b\u4f01\u4e1a\u661f\u73af\u805a\u80fd\u5ba3\u5e03\u5b8c\u621010\u4ebf\u5143\u89c4\u6a21\u7684\u65b0\u4e00\u8f6e\u878d\u8d44\uff0c\u5237\u65b0\u6c11\u8425\u6838\u805a\u53d8\u4f01\u4e1a\u5355\u7b14\u878d\u8d44\u7eaa\u5f55\u3002<\/p>\n

\u70ed\u5ea6\u6500\u5347\u7684\u540c\u65f6\uff0c\u4e1a\u5185\u4ea6\u4fdd\u6301\u8b66\u60d5\u3002\u6709\u4e1a\u5185\u4eba\u58eb\u6307\u51fa\uff0c\u201c\u8fd9\u4e24\u5e74\uff0c\u5173\u6ce8\u6838\u805a\u53d8\u7684\u673a\u6784\u6570\u91cf\u7ffb\u4e86\u4e0a\u767e\u500d\uff0c\u5f88\u5bb9\u6613\u8ba9\u4eba\u8054\u60f3\u5230 2015\u20142016 \u5e74\u7684\u534a\u5bfc\u4f53\u82af\u7247\u70ed\u6f6e\u3002\u201d\u5728\u4ed6\u770b\u6765\uff0c\u8d44\u672c\u53ef\u4ee5\u5feb\u8fdb\u5feb\u51fa\uff0c\u4f46\u6280\u672f\u5374\u65e0\u6cd5\u8df3\u8dc3\u5f0f\u524d\u8fdb\uff0c\u76f8\u6bd4\u534a\u5bfc\u4f53\u6e05\u6670\u7684\u201c\u56fd\u4ea7\u66ff\u4ee3\u201d\u8def\u5f84\uff0c\u5f53\u524d\u6838\u805a\u53d8\u6295\u8d44\u7684\u5e95\u5c42\u903b\u8f91\uff0c\u4ecd\u7136\u9ad8\u5ea6\u4f9d\u8d56\u4e8e\u201c\u5047\u8bbe\u4e00\u5207\u987a\u5229\u201d\u7684\u6280\u672f\u6c99\u76d8\u3002<\/p>\n

\u5168\u7403\u9996\u5bb6\u6838\u805a\u53d8\u4e0a\u5e02\u516c\u53f8<\/p>\n

\u4e4b\u6240\u4ee5\u5f3a\u8c03 General Fusion \u662f\u5168\u7403\u9996\u5bb6\u7eaf\u805a\u53d8\u4e0a\u5e02\u516c\u53f8\uff0c\u9700\u8981\u5148\u56de\u5230\u4eba\u7c7b\u5bf9\u6838\u805a\u53d8\u6280\u672f\u672c\u8eab\u7684\u63a2\u7d22\u8def\u5f84\u3002<\/p>\n

\u5728\u5f53\u524d\u6240\u6709\u6280\u672f\u8def\u7ebf\u4e2d\uff0c\u5168\u7403\u6295\u5165\u89c4\u6a21\u6700\u5927\u3001\u8ddd\u79bb\u53ef\u63a7\u6838\u805a\u53d8\u6761\u4ef6\u6700\u8fd1\u3001\u53d1\u5c55\u6700\u4e3a\u6210\u719f\u7684\u65b9\u6848\uff0c\u662f\u6258\u5361\u9a6c\u514b\uff08Tokamak\uff09\u3002\u6258\u5361\u9a6c\u514b\u662f\u4e00\u79cd\u901a\u8fc7\u78c1\u7ea6\u675f\u5b9e\u73b0\u53d7\u63a7\u6838\u805a\u53d8\u7684\u88c5\u7f6e\uff0c\u5176\u540d\u79f0\u6e90\u81ea\u4fc4\u6587\u7f29\u5199\uff0c\u5206\u522b\u5bf9\u5e94\u73af\u5f62\uff08toroidal\uff09\u3001\u771f\u7a7a\u5ba4\uff08kamera\uff09\u3001\u78c1\uff08magnet\uff09\u4e0e\u7ebf\u5708\uff08kotushka\uff09\u3002\u8fd9\u4e00\u88c5\u7f6e\u6700\u65e9\u7531\u82cf\u8054\u83ab\u65af\u79d1\u5e93\u5c14\u6070\u6258\u592b\u7814\u7a76\u6240\u7684\u963f\u9f50\u83ab\u7ef4\u9f50\u7b49\u4eba\u4e8e 20 \u4e16\u7eaa 50 \u5e74\u4ee3\u63d0\u51fa\u3002<\/p>\n

\u4ece\u7ed3\u6784\u4e0a\u770b\uff0c\u6258\u5361\u9a6c\u514b\u4e2d\u592e\u662f\u4e00\u4e2a\u73af\u5f62\u771f\u7a7a\u5ba4\uff0c\u5916\u56f4\u7f20\u7ed5\u7740\u590d\u6742\u7684\u7ebf\u5708\u7cfb\u7edf\u3002\u901a\u7535\u540e\uff0c\u88c5\u7f6e\u5185\u90e8\u4f1a\u4ea7\u751f\u5f3a\u70c8\u7684\u87ba\u65cb\u78c1\u573a\uff0c\u5c06\u7b49\u79bb\u5b50\u4f53\u52a0\u70ed\u5e76\u7a33\u5b9a\u7ea6\u675f\u5728\u6781\u9ad8\u6e29\u5ea6\u4e0b\uff0c\u4ece\u800c\u89e6\u53d1\u6838\u805a\u53d8\u53cd\u5e94\u3002<\/p>\n

\u4f46\u6258\u5361\u9a6c\u514b\u7684\u4ee3\u4ef7\u540c\u6837\u6e05\u6670\uff1a\u6301\u7eed\u9ad8\u5f3a\u5ea6\u6295\u5165\u3001\u6781\u5176\u590d\u6742\u7684\u5de5\u7a0b\u4f53\u7cfb\uff0c\u4ee5\u53ca\u6f2b\u957f\u800c\u4e0d\u786e\u5b9a\u7684\u5546\u4e1a\u5316\u5468\u671f\u3002\u4f5c\u4e3a\u5168\u7403\u89c4\u6a21\u6700\u5927\u7684\u6258\u5361\u9a6c\u514b\u6838\u805a\u53d8\u9879\u76ee\uff0c\u56fd\u9645\u70ed\u6838\u805a\u53d8\u5b9e\u9a8c\u5806\uff08ITER\uff0c\u4fd7\u79f0\u201c\u4eba\u9020\u592a\u9633\u201d\uff09\u6b63\u662f\u8fd9\u4e00\u73b0\u5b9e\u7684\u96c6\u4e2d\u4f53\u73b0\u3002\u636e\u4e86\u89e3\uff0cITER\u8ba1\u5212\u539f\u8ba1\u5212\u6295\u8d4450\u4ebf\u7f8e\u5143\u5e76\u572810\u5e74\u5185\u5efa\u6210\uff0c\u4f46\u73b0\u5df2\u6295\u8d44\u8d85200\u4ebf\u6b27\u5143\uff0c\u4ecd\u770b\u4e0d\u5230\u6295\u5165\u4e0a\u9650\u3002<\/p>\n

\u6b63\u56e0\u5982\u6b64\uff0c\u8d44\u672c\u5e02\u573a\u8fd1\u5e74\u7684\u5173\u6ce8\u70b9\u9010\u6e10\u8f6c\u5411\u80fd\u591f\u5206\u9636\u6bb5\u9a8c\u8bc1\u3001\u5e76\u5177\u5907\u6f5c\u5728\u5546\u4e1a\u53ef\u884c\u6027\u7684\u6280\u672f\u8def\u7ebf\u3002\u4ee5General Fusion \u91c7\u7528\u7684\u662f\u78c1\u5316\u9776\u805a\u53d8\uff08MTF\uff09\u6280\u672f\u4e3a\u4f8b\uff0c\u5982\u679c\u5c06\u6838\u805a\u53d8\u6bd4\u4f5c\u201c\u6324\u538b\u4e00\u4e2a\u5145\u6ee1\u9ad8\u6e29\u6c14\u4f53\u7684\u6c14\u7403\u201d\uff0c\u6258\u5361\u9a6c\u514b\u4f9d\u8d56\u5e9e\u5927\u800c\u6602\u8d35\u7684\u8d85\u5bfc\u78c1\u4f53\u7cfb\u7edf\u6765\u7ef4\u6301\u7b49\u79bb\u5b50\u4f53\u7a33\u5b9a\uff0c\u800cMTF\u5219\u901a\u8fc7\u673a\u68b0\u6d3b\u585e\uff0c\u5728\u6db2\u6001\u9502\u886c\u5957\u4e2d\u5bf9\u7b49\u79bb\u5b50\u4f53\u8fdb\u884c\u77ac\u65f6\u538b\u7f29\uff0c\u4ee5\u5b9e\u73b0\u805a\u53d8\u6761\u4ef6\u3002\u5176\u6700\u76f4\u63a5\u7684\u4f18\u52bf\uff0c\u5728\u4e8e\u663e\u8457\u964d\u4f4e\u7cfb\u7edf\u590d\u6742\u5ea6\u548c\u6574\u4f53\u6210\u672c\u3002<\/p>\n

2025\u5e74\u521d\uff0cGeneral Fusion \u5ba3\u5e03\uff0c\u5176\u5168\u7403\u9996\u4e2a\u805a\u53d8\u793a\u8303\u88c5\u7f6e\u2014\u2014\u52b3\u68ee26\u53f7\u673a\uff08\u7b80\u79f0\u201cLM26\u201d\uff09\uff0c\u5df2\u5728\u4e0d\u5230\u4e24\u5e74\u7684\u65f6\u95f4\u5185\u5b8c\u6210\u8bbe\u8ba1\u3001\u5efa\u9020\u5e76\u6295\u5165\u8fd0\u884c\u3002LM26\u662f\u9996\u4e2a\u8fbe\u5230\u5546\u4e1a\u89c4\u6a21\u7684MTF\u793a\u8303\u88c5\u7f6e\uff1b\u5b83\u5229\u7528\u9502\u886c\u91cc\u673a\u68b0\u538b\u7f29\u7b49\u79bb\u5b50\u4f53\uff0c\u5176\u76f4\u5f84\u4e3a\u5546\u4e1a\u89c4\u6a21\u768450%\uff0c\u65e8\u5728\u5b9e\u73b0\u5173\u952e\u7684\u805a\u53d8\u6280\u672f\u91cc\u7a0b\u7891\uff1a1\u5343\u7535\u5b50\u4f0f\uff081000\u4e07\u6444\u6c0f\u5ea6\uff09\u52a0\u70ed\uff1b10\u5343\u7535\u5b50\u4f0f\uff081\u4ebf\u6444\u6c0f\u5ea6\uff09\u52a0\u70ed\uff1b\u4ee5\u53ca\u6700\u7ec8\u5b9e\u73b0\u52b3\u68ee\u5224\u636e\uff0c\u5373\u5728\u7b49\u79bb\u5b50\u4f53\u4e2d\u4ea7\u751f\u51c0\u805a\u53d8\u80fd\u91cf\u7684\u805a\u53d8\u53c2\u6570\u7ec4\u5408\u3002<\/p>\n

\u5728\u8fd9\u6b21\u4e0a\u5e02\u4ea4\u6613\u4e2d\uff0cGeneral Fusion \u4e5f\u8ba1\u5212\u5229\u7528\u6240\u5f97\u8d44\u91d1\u63a8\u8fdb LM26 \u9879\u76ee\uff0c\u76ee\u6807\u662f\u4ee5\u5177\u6709\u5546\u4e1a\u610f\u4e49\u7684\u65b9\u5f0f\u5c55\u793a\u548c\u964d\u4f4e MTF \u6280\u672f\u7684\u98ce\u9669\u3002\u6309\u7167\u516c\u53f8\u89c4\u5212\uff0cGeneral Fusion \u9884\u8ba1\u5c06\u5728 2026 \u5e74\u5b9e\u73b0\u79d1\u5b66\u76c8\u4e8f\u5e73\u8861\uff0c\u5373\u6838\u805a\u53d8\u53cd\u5e94\u6240\u4ea7\u751f\u7684\u51c0\u80fd\u91cf\uff0c\u9996\u6b21\u8fbe\u5230\u6216\u7b49\u4e8e\u542f\u52a8\u53cd\u5e94\u6240\u9700\u7684\u8f93\u5165\u80fd\u91cf\u3002<\/p>\n

\u201c\u9020\u58f3\u4e0a\u5e02\u201d<\/p>\n

\u53e6\u4e00\u4e2a\u503c\u5f97\u6ce8\u610f\u7684\u70b9\u662f\uff0cGeneral Fusion\u6b64\u6b21\u4e0a\u5e02\u8ba1\u5212\u5e76\u672a\u9009\u62e9\u4f20\u7edf IPO\uff0c\u800c\u662f\u901a\u8fc7\u7279\u6b8a\u76ee\u7684\u6536\u8d2d\u516c\u53f8\uff08SPAC\uff09\u5b9e\u73b0\u3002<\/p>\n

\u7b80\u5355\u6765\u8bf4SPAC\u4e5f\u662f\u4e00\u79cd\u501f\u58f3\u4e0a\u5e02\uff0c\u53ea\u4e0d\u8fc7\u4e0d\u662f\u5728\u5e02\u573a\u4e0a\u627e\u58f3\uff0c\u800c\u662f\u81ea\u5df1\u9020\u4e00\u4e2a\u58f3\u3002\u8fd9\u4e2a\u201c\u7a7a\u58f3\u516c\u53f8\u201d\u53ea\u6709\u73b0\u91d1\uff0c\u6ca1\u6709\u5b9e\u4e1a\u548c\u8d44\u4ea7\uff0c\u5c06\u6295\u8d44\u5e76\u8d2d\u6b32\u4e0a\u5e02\u7684\u76ee\u6807\u4f01\u4e1a\u3002\u5982\u679c24\u4e2a\u6708\u5185\u6ca1\u6709\u5b8c\u6210\u5e76\u8d2d\uff0c\u90a3\u4e48\u8fd9\u4e2aSPAC\u5c31\u5c06\u9762\u4e34\u6e05\u76d8\uff0c\u5c06\u6240\u6709\u6258\u7ba1\u8d26\u6237\u5185\u7684\u8d44\u91d1\u9644\u5e26\u5229\u606f100%\u5f52\u8fd8\u7ed9\u6295\u8d44\u8005\u3002<\/p>\n

SPAC\u7684\u4f18\u52bf\u5728\u4e8e\u4e0a\u5e02\u901f\u5ea6\u5feb\u3001\u786e\u5b9a\u6027\u9ad8\u3001\u8d39\u7528\u76f8\u5bf9\u8f83\u4f4e\u4e14\u5177\u6709\u4f30\u503c\u7075\u6d3b\u6027\u3002\u4ece\u73b0\u5b9e\u5c42\u9762\u770b\uff0c\u6838\u805a\u53d8\u662f\u4e00\u9879\u5178\u578b\u7684\u9ad8\u6295\u5165\u3001\u957f\u5468\u671f\u3001\u4f4e\u53ef\u9884\u671f\u73b0\u91d1\u6d41\u7684\u6280\u672f\u8d5b\u9053\uff0c\u5e76\u4e0d\u5929\u7136\u9002\u914d\u4ee5\u76c8\u5229\u80fd\u529b\u548c\u53ef\u6bd4\u516c\u53f8\u4e3a\u6838\u5fc3\u7684\u4f20\u7edf IPO \u5b9a\u4ef7\u4f53\u7cfb\u3002\u8fc7\u53bb\u4e00\u5e74\uff0c\u6838\u805a\u53d8\u884c\u4e1a\u6574\u4f53\u878d\u8d44\u73af\u5883\u8d8b\u7d27\uff0cGeneral Fusion \u4ea6\u4e00\u5ea6\u9762\u4e34\u8d44\u91d1\u538b\u529b\uff0c\u66fe\u88c1\u5458\u81f3\u5c11 25%\u3002\u76f4\u5230\u83b7\u5f97 2200 \u4e07\u7f8e\u5143\u7684\u7d27\u6025\u878d\u8d44\u540e\uff0c\u516c\u53f8\u624d\u6682\u65f6\u7a33\u4f4f\u8fd0\u8425\uff0c\u5e76\u5f00\u59cb\u91cd\u65b0\u8bc4\u4f30\u66f4\u5177\u786e\u5b9a\u6027\u7684\u8d44\u672c\u8def\u5f84\u3002<\/p>\n

\u8fd9\u6b21\u4e0e General Fusion \u5408\u5e76\u7684\u516c\u53f8Spring Valley Acquisition Corp. III\u662f\u4e00\u5bb6\u5178\u578b\u7684SPAC\uff0c\u4e5f\u53ef\u4ee5\u88ab\u53eb\u505a\u201c\u7a7a\u767d\u652f\u7968\u516c\u53f8\u201d\u3002\u80cc\u540e\u5e73\u53f0Spring Valley\u662f\u4e00\u5bb6\u603b\u90e8\u4f4d\u4e8e\u5fb7\u514b\u8428\u65af\u5dde\u8fbe\u62c9\u65af\u7684\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\uff0c\u65d7\u4e0b\u62e5\u6709\u591a\u4e2a\u6295\u8d44\u5de5\u5177\uff0c\u65e8\u5728\u6536\u8d2d\u6216\u5408\u5e76\u80fd\u6e90\u6216\u8131\u78b3\u5e02\u573a\u7684\u4f01\u4e1a\u3002<\/p>\n

Spring Valley\u8463\u4e8b\u957f\u517c\u9996\u5e2d\u6267\u884c\u5b98\u514b\u91cc\u65af\u00b7\u7d22\u96f7\u5c14\u65af(Chris Sorrells)\u9886\u5bfc\uff0c\u5176\u66fe\u4f5c\u4e3aNGP\u80fd\u6e90\u6280\u672f\u5408\u4f19\u516c\u53f8\u7684\u5408\u4f19\u4eba\uff0c\u5728\u80fd\u6e90\u548c\u8131\u78b3\u9886\u57df\u62e5\u6709\u8d85\u8fc7\u4e09\u5341\u5e74\u7684\u7ecf\u9a8c\u3002\u6b64\u5916\uff0c\u514b\u91cc\u65af\u8fd8\u662f\u53ef\u518d\u751f\u80fd\u6e90\u96c6\u56e2\u7684\u4e3b\u8981\u6295\u8d44\u4eba\uff0c\u8be5\u96c6\u56e2\u540e\u88ab\u96ea\u4f5b\u9f99\u4ee531.5\u4ebf\u7f8e\u5143\u6536\u8d2d\uff0cIPO\u540e\u56de\u62a5\u7387\u9ad8\u8fbe6\u500d\u3002<\/p>\n

\u8fc7\u53bb\u4e94\u5e74\uff0cSpring Valley\u5e73\u53f0\u901a\u8fc7\u4e09\u6b21\u9996\u6b21\u516c\u5f00\u52df\u80a1\uff08IPO\uff09\u7b79\u96c6\u4e866.9\u4ebf\u7f8e\u5143\uff0c\u5e76\u901a\u8fc7\u5df2\u5b8c\u6210\u6216\u6b63\u5728\u8fdb\u884c\u7684\u4e1a\u52a1\u5408\u5e76\u7b79\u96c6\u6216\u627f\u8bfa\u4e86\u8d85\u8fc74.5\u4ebf\u7f8e\u5143\u7684\u8d44\u91d1\u3002\u6b64\u5916\uff0c\u8be5\u5e73\u53f0\u4fc3\u6210\u7684\u9996\u6b21\u4e1a\u52a1\u5408\u5e76\uff0c\u5728\u4ea4\u6613\u5b8c\u6210\u540e\uff0c\u901a\u8fc7\u516c\u5f00\u5e02\u573a\u4ea4\u6613\u548c\u4e8c\u7ea7\u5e02\u573a\u4ea4\u6613\uff0c\u4e3a\u80a1\u4e1c\u5e26\u6765\u4e86\u7ea640\u4ebf\u7f8e\u5143\u7684\u6d41\u52a8\u6027\u3002<\/p>\n

2022\u5e745\u6708\uff0cSpring Valley I\u4e0eNuScale Power\u5408\u5e76\uff0c\u80a1\u6743\u4f30\u503c\u8fbe22\u4ebf\u7f8e\u5143\uff0c\u8fd9\u6807\u5fd7\u7740\u80fd\u6e90\u9886\u57df\u7684\u4e00\u4e2a\u91cd\u8981\u91cc\u7a0b\u7891\uff0c\u4e5f\u7531\u6b64\u8bde\u751f\u4e86\u5168\u7403\u9996\u5bb6\u4e13\u6ce8\u4e8e\u5c0f\u578b\u6a21\u5757\u5316\u53cd\u5e94\u5806\uff08SMR\uff09\u6280\u672f\u7684\u4e0a\u5e02\u516c\u53f8\u30022025\u5e747\u6708\uff0cSpring Valley II\u4e0eEagle Energy Metals Corp.\u8fbe\u6210\u6700\u7ec8\u534f\u8bae\uff0c\u4ee53\u4ebf\u7f8e\u5143\u7684\u80a1\u6743\u4f30\u503c\u5408\u5e76\u3002Eagle Energy Metals Corp.\u662f\u4e00\u5bb6\u65b0\u4e00\u4ee3\u6838\u80fd\u516c\u53f8\uff0c\u62e5\u6709\u7f8e\u56fd\u6700\u5927\u7684\u53ef\u5f00\u91c7\u3001\u5df2\u63a2\u660e\u548c\u5df2\u6307\u793a\u94c0\u77ff\u5e8a\u7684\u5f00\u91c7\u6743\uff0c\u4ee5\u53ca\u4e13\u6709\u7684\u5c0f\u578b\u6a21\u5757\u5316\u53cd\u5e94\u5806\uff08SMR\uff09\u6280\u672f\u3002<\/p>\n

\u5047\u8bbe\u6ca1\u6709\u8d4e\u56de\uff0cGeneral Fusion\u4e0eSVAC \u4e4b\u95f4\u7684\u62df\u8bae\u4e1a\u52a1\u5408\u5e76\u610f\u5473\u7740\u7ea6 10 \u4ebf\u7f8e\u5143\u7684\u5907\u8003\u80a1\u6743\u4ef7\u503c\uff0c\u5176\u4e2d\u5305\u62ec\u6765\u81ea\u5df2\u627f\u8bfa\u4e14\u8d85\u989d\u8ba4\u8d2d\u7684 PIPE \u7684\u7ea6 1.05 \u4ebf\u7f8e\u5143\u4ee5\u53ca SVAC \u7684 2.3 \u4ebf\u7f8e\u5143\u4fe1\u6258\u8d44\u672c\u3002\u636ePitchBook\u6570\u636e\uff0cGeneral Fusion\u6b64\u524d\u5df2\u7b79\u96c6\u4e86\u8d85\u8fc74.4\u4ebf\u7f8e\u5143\uff0c\u66fe\u83b7\u5f97\u4e9a\u9a6c\u900a\u521b\u59cb\u4eba\u6770\u592b\u00b7\u8d1d\u4f50\u65af (Jeff Bezos) \u3001Shopify CEO\u6258\u6bd4\u4e9a\u65af\u00b7\u5362\u7279\u514b (Tobi Lutke) \u548c\u6de1\u9a6c\u9521\u7b49\u4e2a\u4eba\u548c\u516c\u53f8\u6295\u8d44\u3002<\/p>\n

\u8d44\u672c\u5bc6\u96c6\u5e03\u5c40\u5546\u4e1a\u6838\u805a\u53d8<\/p>\n

\u5982\u4eca\uff0c\u5168\u7403\u4e3b\u8981\u7ecf\u6d4e\u4f53\u90fd\u5df2\u5c06\u6838\u805a\u53d8\u89c6\u4e3a\u4e0b\u4e00\u4ee3\u6218\u7565\u6027\u80fd\u6e90\u4ea7\u4e1a\u3002\u636e\u4e86\u89e3\uff0c\u5168\u7403\u8fd140\u4e2a\u56fd\u5bb6\u6b63\u63a8\u8fdb\u805a\u53d8\u8ba1\u5212\uff0c\u5904\u4e8e\u8fd0\u884c\u3001\u5728\u5efa\u6216\u89c4\u5212\u4e2d\u7684\u805a\u53d8\u88c5\u7f6e\u8d85\u8fc7160\u5ea7\u3002<\/p>\n

\u5728\u4e2d\u56fd\uff0c\u6838\u805a\u53d8\u540c\u6837\u88ab\u5199\u5165\u56fd\u5bb6\u672a\u6765\u4ea7\u4e1a\u5e03\u5c40\u3002\u201c\u5341\u4e94\u4e94\u201d\u89c4\u5212\u5efa\u8bae\u660e\u786e\u63d0\u51fa\uff0c\u8981\u524d\u77bb\u5e03\u5c40\u672a\u6765\u4ea7\u4e1a\uff0c\u63a8\u52a8\u6c22\u80fd\u3001\u6838\u805a\u53d8\u80fd\u7b49\u6210\u4e3a\u65b0\u7684\u7ecf\u6d4e\u589e\u957f\u70b9\u3002\u76ee\u524d\uff0c\u5168\u8d85\u5bfc\u6258\u5361\u9a6c\u514b\u88c5\u7f6e\uff08EAST\uff09\u3001\u7d27\u51d1\u578b\u805a\u53d8\u80fd\u5b9e\u9a8c\u88c5\u7f6e\uff08BEST\uff09\u548c\u805a\u53d8\u5806\u4e3b\u673a\u5173\u952e\u7cfb\u7edf\uff08CRAFT\uff09\u5df2\u5f62\u6210\u68af\u6b21\u5e03\u5c40\u3002\u5176\u4e2d\uff0c\u4f5c\u4e3a\u4e2d\u56fd\u4e0b\u4e00\u4ee3\u201c\u4eba\u9020\u592a\u9633\u201d\uff0cBEST\u8ba1\u5212\u57282030\u5e74\u524d\u540e\u70b9\u4eae\u4eba\u7c7b\u805a\u53d8\u80fd\u7684\u201c\u7b2c\u4e00\u76cf\u706f\u201d\u3002<\/p>\n

\u9876\u7ea7\u79d1\u6280\u8d44\u672c\u4e5f\u5728\u6301\u7eed\u52a0\u7801\u8fd9\u4e00\u8d5b\u9053\u3002OpenAI \u9996\u5e2d\u6267\u884c\u5b98\u5c71\u59c6\u00b7\u963f\u5c14\u7279\u66fc\u65e9\u5728 2015 \u5e74\u4fbf\u5411Helion Energy \u6295\u8d44 950 \u4e07\u7f8e\u5143\uff0c\u5e76\u4e8e 2021 \u5e74\u8ffd\u52a0 3.75 \u4ebf\u7f8e\u5143\uff0c\u8be5\u516c\u53f8\u5df2\u7ecf\u4e0eMicrosoft\u7b7e\u7f72\u4e86\u8d2d\u7535\u534f\u8bae(PPA)\uff0c\u5e76\u8bbe\u5b9a\u4e86\u66f4\u6fc0\u8fdb\u7684\u5546\u4e1a\u5316\u65f6\u95f4\u8868\u3002\u6bd4\u5c14\u00b7\u76d6\u8328\u5206\u522b\u57282021\u5e74\u548c2024\u5e74\u6295\u8d44\u4e86\u4ece\u9ebb\u7701\u7406\u5de5\u5b66\u9662\u5206\u62c6\u7684Commonwealth Fusion Systems (CFS)\u4ee5\u53ca\u53e6\u4e00\u5bb6\u6838\u805a\u53d8\u516c\u53f8Type One Energy\u3002\u53bb\u5e74\uff0cCFS\u83b7\u5f97\u4e86Nvidia\u548cGoogle\u7684\u6295\u8d44\uff1b\u800c\u4eca\u5e74\u4e0d\u4e45\u524d\uff0cType One Energy\u4e5f\u5ba3\u5e03\u5b8c\u62108700\u4e07\u7f8e\u5143B\u8f6e\u878d\u8d44\u3002<\/p>\n

\u56fd\u5185\u6838\u805a\u53d8\u878d\u8d44\u4ea6\u660e\u663e\u5347\u6e29\u30022025 \u5e74 7 \u6708\uff0c\u4e2d\u6838\u96c6\u56e2\u7275\u5934\u7684\u4e2d\u56fd\u805a\u53d8\u5f15\u5165\u6606\u4ed1\u8d44\u672c\u3001\u6d59\u80fd\u7535\u529b\u7b49\u80a1\u4e1c\uff0c\u589e\u8d44\u8fd1 115 \u4ebf\u5143\uff1b\u968f\u540e\uff0c\u8bfa\u74e6\u805a\u53d8\u3001\u5b89\u4e1c\u805a\u53d8\u3001\u5317\u4eac\u4e34\u754c\u9886\u57df\u7b49\u4f01\u4e1a\u76f8\u7ee7\u5b8c\u6210\u5929\u4f7f\u8f6e\u6216\u6218\u7565\u878d\u8d44\uff0c\u4ea7\u4e1a\u94fe\u9010\u6b65\u6210\u5f62\u3002<\/p>\n

\u884c\u4e1a\u5206\u6790\u6307\u51fa\uff0c\u968f\u7740\u6570\u636e\u4e2d\u5fc3\u5bf9\u7a33\u5b9a\u6e05\u6d01\u7535\u529b\u7684\u9700\u6c42\u7206\u53d1\uff0c\u591a\u5bb6\u5934\u90e8\u805a\u53d8\u4f01\u4e1a\u6b63\u52a0\u901f\u4ece\u79d1\u7814\u53d9\u4e8b\u8f6c\u5411\u80fd\u6e90\u57fa\u5efa\u53d9\u4e8b\uff0c2026\u5e74\u53ef\u80fd\u6210\u4e3a\u5176\u96c6\u4e2d\u767b\u9646\u4e8c\u7ea7\u5e02\u573a\u7684\u5173\u952e\u5e74\u4efd\u3002<\/p>\n

\u53ef\u63a7\u6838\u805a\u53d8\uff0c\u53ef\u80fd\u662f\u4eba\u7c7b\u5386\u53f2\u4e0a\u6700\u91cd\u8981\u7684\u4e00\u573a\u6bd4\u8d5b\u3002\u7f8e\u56fd\u3001\u65e5\u672c\u3001\u6b27\u6d32\u90fd\u5728\u62bc\u6ce8\u8fd9\u6761\u8def\u7ebf\uff0c\u4f46\u771f\u6b63\u7684\u8003\u9a8c\u5c1a\u672a\u5230\u6765\u3002\u5728\u4e00\u4f4d\u4e1a\u5185\u4eba\u58eb\u770b\u6765\uff0c\u8fd9\u4e2a\u884c\u4e1a\u6700\u9700\u8981\u8b66\u60d5\u7684\uff0c\u6b63\u662f\u201c\u4e00\u54c4\u800c\u4e0a\uff0c\u4e00\u54c4\u800c\u6563\u201d\uff0c\u5426\u5219\uff0c\u805a\u96c6\u8d77\u6765\u7684\u4e0d\u662f\u5b8c\u6574\u7684\u4ea7\u4e1a\u94fe\uff0c\u800c\u662f\u4ea7\u4e1a\u94fe\u7684\u6ce1\u6cab\u3002<\/p>\n

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–\u00a0<\/strong>END<\/strong>\u00a0–<\/strong><\/p>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n

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