Trump Media & Technology Group, the company behind the Truth Social platform, announced a $6 billion merger with fusion energy firm TAE Technologies on Thursday. The deal marks an unexpected move into energy technology for the struggling social media company.
The all-stock merger will result in shareholders of both companies owning roughly 50 percent of the new combined entity. The company plans to start building the world’s first utility-scale fusion power plant in 2026.
Trump Media’s share price has fallen nearly 70 percent over the past year but jumped about 25 percent following the announcement.
Trump Media CEO Devin Nunes, a former Republican congressman, said the merger is “a big step toward a revolutionary technology that will cement America’s global energy dominance for generations.”
Fusion power plants aim to generate electricity using the same process that powers the Sun. Although researchers have pursued this technology for decades, no commercially viable fusion plant has yet been built.
The merger comes as the Trump administration supports energy expansion to meet the growing demand from AI data centers, which are putting pressure on U.S. power grids. The government is fast-tracking projects to increase energy supply for high-demand technologies.
TAE Technologies, founded in 1998, has developed five fusion reactors and employs over 400 staff, including 62 Ph.D. holders. The company has raised more than $1.3 billion from investors such as Google, Chevron, and Goldman Sachs. Trump Media has agreed to provide up to $300 million in cash to support TAE’s projects.
Trump Media has recently launched projects including cryptocurrency-based financial products and a video streaming platform, though it only generated $1.7 million in revenue in the first half of 2025.
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After the merger, Trump Media CEO Devin Nunes and TAE CEO Michl Binderbauer will serve as co-CEOs, while Michael Schwab is expected to chair a nine-member board including Donald Trump Jr. The deal requires shareholder and regulatory approval and is expected to close by mid-2026.
