Trump Media & Technology Group, the parent company of President Donald Trump’s social media service, Truth Social, announced an all-stock merger with fusion research firm TAE Technologies in a deal valued at more than $6 billion, which will make the combined firm one of the world’s largest publicly traded fusion companies. TAE was formed in 1998 to work on commercial nuclear fusion.
The companies claimed that they would begin construction of a “utility-scale fusion power plant” as early as next year. Fusion power, the process that powers the Sun, has been advocated for decades as the next stage of power production for the world.
The agreement represents a major shift for Trump Media, which has not succeeded in building its revenue and audience beyond its core political following. Donald Trump is the company’s largest shareholder, with his stake held in a trust managed by his son, Donald Trump Jr., who remains on the board.
