Trump Media, fusion power firm TAE Technologies combine in $6 billion deal
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Dec 18 : U.S. President Donald Trump's social media firm is entering the fusion-power business through a $6 billion merger with privately held TAE Technologies, betting on the 7experimental technology as AI datacenters drive a surge in energy demand.
The all-stock deal announced on Thursday comes just days after industry representatives met government officials to urge federal funding for the nascent fusion industry and adds to the Trump family's holdings in businesses ranging from cryptocurrency to real estate holdings and mobile services.
Surging electricity demand for AI data centers has revived interest in cleaner and reliable nuclear power, including restarting shuttered reactors, expanding existing ones and signing contracts for future small modular reactors.
Under the deal, shareholders of both companies will own about 50 per cent of the combined entity after the closing of the deal in mid-2026. Trump Media and Technology Group will be the holding company for businesses including Truth Social, TAE Power Solutions and TAE Life Sciences.
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The announcement quickly drew traction for the money-losing Trump Media on Stocktwits, a social media hub for retail investors, sending its shares surging more than 33 per cent in premarket trading.
FUSION TECHNOLOGY
TAE Technologies, backed by Alphabet's Google and Chevron, is aiming to develop and sell next‑generation neutral beam systems for fusion and related applications in a more cost‑effective manner.
Nuclear fusion is a nascent technology that aims to generate electricity by harnessing the process that powers the sun. It offers the vision of abundant energy with little pollution, radioactive waste or greenhouse gases.
The two companies plan to site and begin construction on the world's first utility-scale fusion power plant after the deal closes.
Devin Nunes, chairman and CEO of Trump Media, will be the co-CEO of the new company, along with TAE CEO and Director Michl Binderbauer, the companies said, adding the deal was approved by the boards.
TAE has raised more than $1.3 billion in private funding from investors, including Google, Chevron, Sumitomo Corporation of Americas, Venrock and Wellcome Trust.
Trump Media, which mainly generates revenue from advertising on the Truth Social platform, has consistently clocked losses since its inception. It posted a decline in revenue and a loss of $54.8 million the third quarter ended September.
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