Ge Weidong Makes Another Move: An Investment Tycoon and His New Investment Logic

Private equity tycoon Ge Weidong, in the past few years, has gained tens of billions in investment value by proactively positioning himself in the AI industry chain. This time, he is making a new investment move!

According to relevant announcements, recently Hefei Xinghe Fusion Energy Technology Co., Ltd. completed its first round of equity financing, with a total fundraising amount reaching 830 million yuan and a post-investment valuation of nearly 3 billion yuan, setting a new record for the highest first-round financing among private commercial fusion enterprises in China.

This round of financing saw the participation of a total of24 investment institutions. Chaos Investment, controlled by Ge Weidong, together with SAIC Capital, Hengxu Capital, Shenzhen Venture Capital, and CAS Star, jointly led the investment, and Da Chen Caizhi, Lenovo Star, Zijin Mining, Guoke Capital, Zhongding Co., Ltd., and21 other institutions participated as co-investors. Hefei local state-owned capital also participated synchronously, attracting significant attention from the outside world.

This investment by financial tycoon Ge Weidong is drawing strong attention: will it encounter setbacks like his investment in Anheng Information did, or will he have to “endure” for a long time as with Zhao Yi Innovation, or will it yield rich returns like his involvement in Muxi Co., Ltd.?

Betting on the blank track of Stellarator

Information shows that the Xinghe Fusion company that Ge Weidong is betting on this time belongs to the fusion theme and mainly focuses on the stellarator route (the so-called stellarator refers to mimicking the nuclear fusion happening constantly inside stars). Furthermore, the domestic magnetic confinement fusion market currently is dominated by the Tokamak route, while stellarator participants are very few.

Xinghe Fusion was established in November2025 in Hefei High-tech Zone. Its founder, Dong Wei, graduated from the Department of Electronic Engineering at Fudan University, and has20 years of industry experience in the semiconductor field.

The company targets “high-temperature superconductivity + advanced quasi-isodynamic (QI)” stellarator technology. Although stellarator technology is highly complex, it does not rely on the plasma’s own large current to maintain the magnetic field, making it naturally suitable for long-term steady-state operation, and more aligned with actual power generation requirements.If successful, it will deliver very high business value to the outside world.

As for Ge Weidong, this might be another move to position himself in a future hopeful industry, similar to his investment in Muxi Co., Ltd..

Collaboratively solving AI energy needs?

Although this is Ge Weidong’s first investment in the fusion theme, some opinions hold that Ge Weidong may be interested not just in one company, but in the energy sector behind the growth of AI computing power.

As is well known, the energy consumption pressure of the computing industry has become a pain point, and Nvidia mentioned at the 2025 GTC conference that in the era of AI factories, the power consumption per cabinet will exceed 500 kilowatts. According to the International Energy Agency, the global power consumption of data centers will double over five years, and the electricity consumption of AI-dedicated data centers will grow more than threefold, making the global supply-demand contradiction of power increasingly prominent.

Fusion might become one of the ways for human society to solve the energy bottleneck in the future. Since the start of this year, the density of capital flowing into the fusion track has clearly increased. Industry giants, and top venture capital institutions are deploying fusion enterprises along various technical routes. Among them, Alibaba, Meituan Longzhu, and Hillhouse have invested in Nova Fusion; CATL led investment in Beta Fusion; CAS Star, China Merchants Venture, and Ant Group are investing in Xingneng Xuanguang.

Tycoon Ge Weidong prefers big moves

Ge Weidong rose as a big player in the futures market, but around 2015, he moved his wealth to the stock market, amassing enormous fortune amidst ups and downs.

Externally, it’s summarized that around 2014, he seized the surge in the financial sector by investing in Ping An Bank, ultimately earning about 2 billion yuan.

In the following years, he repeatedly tried his luck in the private placement market, fluctuating between gains and losses, eventually getting deeply trapped in Tibet Pharma and iFlytek.

But in the subsequent bull market from 2019 to 2020, he leveraged his long-term holdings in the semiconductor and software sectors and continuous bottom-fishing, not only erasing all floating losses but reaching a new stage high for his account. In 2020, his peak stock market holdings historically broke through 10 billion yuan.

After 2021, Ge Weidong faced new challenges, with early investments in Anheng Information, Yonyou Software, and Zhao Yi Innovation falling back or even below cost, making him for a time a target of market ridicule.

In fact, Ge Weidong was quietly accruing strength and waiting for the next explosion. Statistics show that during this period, he actively invested in Muxi Co., Ltd. and a series of primary market AI industry chain targets, spreading his investment map across semiconductors, robotics, intelligence, and several sectors. As a result, he has achieved record harvests in the past two years.

According to research, after Muxi Co., Ltd. went public, he controlled more than 6% of Muxi, and at its highest share price, the market value of this single investment broke 16 billion yuan, with profits exceeding 10 billion yuan—setting a new personal record.

So, what will this latest round of fusion investment ultimately bring Ge Weidong? It's worth paying close attention to.

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