Alphabet Inc. (NASDAQ:GOOGL) is one of the high profit margin stocks to buy now. On June 30, Google announced an investment in nuclear fusion, which is a power source not yet successfully deployed globally. The tech giant revealed plans to purchase 200 megawatts of power from a proposed nuclear fusion plant in Chesterfield County, Virginia, which is being developed by Commonwealth Fusion Systems/CFS.
This technology is based on research from MIT. Additionally, Google will increase its existing equity investment in Commonwealth, adding to the over $2 billion the company has already raised. The exact size of Google’s new investment was not disclosed, but CFS co-founder and CEO Bob Mumgaard indicated it would be comparable to the previous Series B funding round of $1.8 billion in 2021.
A user’s hands typing a search query into a Google Search box, emphasizing the company’s search capabilities.
This shows Google’s commitment to its pledge to match its global electricity use with 24/7 carbon-free power by 2030, which was a goal set by Alphabet. The International Atomic Energy Agency estimates that fusion could produce 4x more energy per kilogram of fuel than fission and ~four million times more energy than burning oil or coal, without releasing carbon dioxide, the primary gas contributing to global warming.
Alphabet Inc. (NASDAQ:GOOGL) offers various products and platforms and operates through Google Services, Google Cloud, and Other Bets segments.
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Disclosure: None. This article is originally published at Insider Monkey.
