Trump Media and Technology Group on Thursday announced a merger agreement with TAE Technologies, a privately held fusion power company, valued at more than $6 billion.
The all-stock deal, expected to close in mid-2026, will result in shareholders of each firm owning approximately half of the combined company.
Trump Media shares — which have plummeted more than 75% since their January highs — rocketed 33% higher after the opening bell.
The major pivot for Trump Media, which operates President Donald Trump‘s social media platform Truth Social, comes as America’s race against China for AI superiority has fueled a massive energy demand.
There are currently no commercial plants producing electricity using fusion, a futuristic technology that carries the potential to generate abundant energy without the risks associated with nuclear power.
Trump Media ($DJT) Stock Price
The merger would create “one of the world’s first publicly traded fusion companies,” according to a press release.
Trump Media “has agreed to provide up to $200 million of cash to TAE at signing and an additional $100 million is available” upon signing a regulatory filing known as a Form S-4.
Trump Media chairman Devin Nunes and TAE CEO Dr. Michl Binderbauer will serve as co-CEOs of the combined company, according to the release.
In a conference call later Thursday morning, Nunes said that the merger aligns with Trump Media’s “America-first principles” and its strategy of seeking “combinations that bring transformative technology the potential for significant, long-term value creation and dramatic societal impact.”
Listeners were given no opportunity to ask questions during the call, which ended after about eight minutes.
Nunes noted that Trump Media held over $3 billion in assets as of November, much of which came from the hoard of bitcoin the company amassed this year as it branched out into the crypto and financial services sectors.
But Trump Media has continued to generate meager revenue, while reporting net losses in its earnings statements. The company said it brought in less than $2.7 million in revenue in the first nine months of 2025.
Most of that revenue came from advertising on Truth Social, which, despite being the president’s preferred messaging platform, has struggled to compete against more established social media competitors such as Elon Musk’s X.
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“Upon closing, Trump Media & Technology Group will be the holding company for Truth Social, Truth+, Truth.Fi, TAE, TAE Power Solutions and TAE Life Sciences, among others,” the companies said.
Trump indirectly owns more than 114 million shares of Trump Media. Before taking office in January, he transferred that majority stake to a revocable trust whose sole trustee is his eldest son, Donald Trump Jr.
After Trump Media merges with TAE, the combined company aims to build “the world’s first utility-scale fusion power plant … subject to required approvals.”
“Fusion power plants are expected to provide economic, abundant, and dependable electricity that would help America win the A.I. revolution and maintain its global economic dominance,” the companies said.
TAE says it holds 1,600 patents and has raised more than $1.3 billion from investors including Google, Chevron and Goldman Sachs.
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