Trump Media & Technology Group, the company behind Donald Trump's Truth Social platform, announced a merger worth over $6 billion with nuclear fusion company TAE Technologies on Thursday. The combined entity aims to build the world's first utility-scale fusion power plant next year, targeting the massive energy demands of artificial intelligence data centers.
TMTG shares surged 27% during early trading following the announcement. Under the deal, shareholders of both companies will each own approximately 50% of the merged entity, with completion expected by mid-2026.
Devin Nunes, chairman and CEO of TMTG, emphasized the strategic importance of the merger. «Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we're taking a big step forward toward a revolutionary technology that will cement America's global energy dominance for generations,» he said in a statement.
Nunes will serve as co-CEO of the new company alongside TAE's CEO Michl Binderbauer. In his statement, Nunes called fusion power «the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s – an innovation that will lower energy prices, boost supply, ensure America's A.I.-supremacy, revive our manufacturing base and bolster national defense.»
Technology and Backing
TAE Technologies specializes in nuclear fusion, the process of combining light atomic nuclei to create energy without pollution, radioactive waste, or greenhouse gases. The company has secured financial backing from Alphabet's Google and oil giant Chevron.
Tech analyst Dan Ives from Wedbush suggested the merged entity is «now all about TAE». He predicted significant political support: «TAE will also clearly have major political support from President Trump in our view and this importantly will create a major nuclear fusion US energy domestic bet over the coming years,» he said.
TMTG's Current Business
Trump Media's core business, the Truth Social platform, has been loss-making. In the three months to September 30, sales dropped to $927,900 from just over $1.01 million the previous year, while losses widened to $54.8 million from $19.2 million in the same quarter of 2024.
The merger addresses growing demand for nuclear power from the tech industry, driven by AI's insatiable appetite for electricity. Companies are restarting shut reactors, expanding capacity, and contracting for future small modular reactors to meet this demand.
Note: This article was created with Artificial Intelligence (AI).
