By Lucia Maffei – Reporter, Boston Business Journal In one of the largest venture-capital rounds of the year, Commonwealth Fusion Systems raised $863 million from old and new investors including NVentures, NVIDIA’s venture capital arm. The Massachusetts-based company, also known as CFS, said Wednesday that the new round brings the total capital raised to date […]
By Greg Ryan – Senior Reporter, Boston Business Journal For decades, scientists have chased the limitless zero-carbon energy promised by fusion. Now, Devens-based Commonwealth Fusion Systems plans to build the world’s first grid-scale commercial fusion power plant in Virginia. The announcement on Tuesday marks a milestone not just for the MIT spinoff, but the global […]
By Lucia Maffei – Technology Reporter, Boston Business Journal Commonwealth Fusion Systems, or CFS, an MIT spinoff seeking to commercialize fusion energy, said on Wednesday it closed more than $1.8 billion in funding. The Series B round, possibly one of the largest single rounds of financing raised by a Bay State company this year, was […]
By Todd Gillespie and Catherine Lucey Citigroup Inc. Chief Executive Officer Jane Fraser met with President Donald Trump on Wednesday to pitch public stock offerings for mortgage giants Fannie Mae and Freddie Mac. Fraser met with Trump to discuss the bank’s possible involvement in monetizing the Federal National Mortgage Association and Federal Home Loan Mortgage Corp., the firms that have been under government […]
By Maria Eloisa Capurro and Amara Omeokwe Federal Reserve Governor Lisa Cook called the July jobs report “concerning,” and said it could signal an inflection point for the US economy. “These revisions are somewhat typical of turning points,” Cook said Wednesday during a moderated discussion organized by the Boston Fed. Data published last week pointed to a sharp […]
By Ben Casselman Economic growth softened in the first half of the year, as tariffs and uncertainty upended business plans and scrambled consumers’ spending decisions. Gross domestic product, adjusted for inflation, increased at a 3 percent annual rate in the second quarter, the Commerce Department said on Wednesday. That topped forecasters’ expectations and appeared to […]
By Lucia Maffei Google and Massachusetts-Based CFS Advance Commercial Fusion Energy The promise of fusion energy—clean, limitless power—is gaining urgency as AI technologies demand massive computational energy. Commonwealth Fusion Systems (CFS), based in Devens, Massachusetts, announced Monday a deepened partnership with Google, which plans to purchase 200 megawatts of fusion power from the MIT spinoff. Google […]
By Eli Chavez PayByCar Lets Drivers Pay for Gas Using E-ZPass Sometimes being stuck in traffic sparks innovation. For Kevin Condon, founder and CEO of PayByCar, a traffic jam on the Northeast Expressway inspired a service that allows drivers to pay for gas using their E-ZPass. The system works two ways: a device installed on gas […]
Hannah Green Foghorn Therapeutics Moves Headquarters from Kendall Square to Watertown Biotech company Foghorn Therapeutics Inc. is relocating its headquarters from Cambridge to Watertown. In a recent securities filing, the company announced it will terminate its lease in Kendall Square early and lease 72,850 square feet at 99 Coolidge Avenue in Watertown for executive offices, […]
Eli Chavez A startup co-founded by a Harvard dropout and his childhood friend is bringing personal AI agents to life science workers. LogicFlo, based in Boston and New York, was founded by Arun Ramakrishnan, who previously led deep-learning projects at Intuitive Surgical, and Udith Vaidyanathan, who left Harvard Business School to pursue the venture full-time. […]
