ab 2 July 2026 Powered by YES UBS Evidence Lab Global Research Q-Series Nuclear fusion: From science to investable theme Market behind the curve as fusion development gains momentum We believe the market could be behind the curve as fusion shifts from a lab experiment to commercial reality as a carbon-free baseload power source. Our view is supported by three key developments over the past three years. 1) Technology: we have seen record plasma duration and net energy gain of Q>1. 2) Spending: capex grew 3x ...