Trump Media Merges with TAE Technologies in $6 Billion Deal to Pioneer Commercial Fusion Energy
Trump Media & Technology Group (TMTG), the parent company of Truth Social, announced on December 18, 2025, a definitive all-stock merger agreement with TAE Technologies, a leading developer of fusion power technology. The transaction values the combined entity at more than $6 billion and positions it as one of the world’s first publicly traded fusion companies.
**What is fusion power?**
Fusion power replicates the process that powers the sun: combining light atoms (like hydrogen) to release massive amounts of energy. Unlike traditional nuclear fission (used in current nuclear plants), fusion produces no long-lived radioactive waste, no meltdown risk, and no weapons proliferation potential. It promises abundant, clean, reliable electricity. However, achieving practical fusion has challenged scientists for decades, as it requires extreme temperatures and precise control.
TAE Technologies has advanced this field over 27 years. The company has built and operated five research reactors, raised over $1.3 billion from investors including Google, Chevron, and Goldman Sachs, and holds more than 1,600 patents. Recent breakthroughs in 2025 simplified reactor design, reduced costs, and improved efficiency, bringing commercial application closer.
**Key details of the merger:**
– Shareholders of TMTG and TAE will each own approximately 50% of the combined company on a fully diluted basis.
– TMTG provides up to $200 million in cash upon signing and an additional $100 million tied to regulatory filings.
– The deal, approved by both boards, is expected to close in mid-2026, subject to shareholder and regulatory approvals.
– Leadership: Devin Nunes (TMTG CEO) and Dr. Michl Binderbauer (TAE CEO) will serve as co-CEOs. Michael B. Schwab will chair a nine-member board, including Donald J. Trump Jr. and other directors.
The combined company plans to begin site selection and construction in 2026 for the world’s first utility-scale fusion power plant (50 megawatts electric). Larger plants (350-500 megawatts) are projected to follow. These facilities aim to deliver affordable, carbon-free power to meet surging demand from artificial intelligence data centers, manufacturing, and national defense needs.
Devin Nunes stated that the merger advances America’s energy dominance, lowering prices, boosting supply, and securing AI leadership. Dr. Binderbauer emphasized accelerating commercialization to address global energy scarcity.
**Market reaction:**
TMTG shares (ticker: DJT) surged over 40% on announcement day, reflecting investor interest in fusion’s potential amid rising U.S. electricity demands.
This transaction combines TMTG’s public market access and capital with TAE’s proven technology, aiming to transform America’s energy landscape through private-sector innovation.
