Trump Media & Technology Group (TMTG), the parent corporation of President Donald Trump’s social media platform Truth Social, disclosed plans on Thursday to combine with TAE Technologies, a fusion power company, through an all-stock transaction the firms say is valued at more than $6 billion.
Following the completion of the merger, both TAE and Trump Media shareholders will each control roughly 50% of the newly formed entity, according to statements released by the companies. Each share of TAE common stock has been valued at $53.89 as part of the agreement. TAE Technologies, previously a private enterprise, is poised to become one of the first publicly traded fusion energy firms through this transaction.
Devin Nunes, the former Republican lawmaker who left Congress in 2021 to take on the role of CEO at Trump Media, will serve as co-CEO of the combined organization, sharing leadership responsibilities with Michl Binderbauer, CEO of TAE Technologies.
As a result of the announcement, shares in Trump Media & Technology Group surged by 42% at Thursday’s market close. Prior to news of the action, the stock had seen a significant decline, losing 70% of its value since the beginning of the year.
Post-merger, Trump Media & Technology Group will become the holding company overseeing Truth Social, as well as TAE Technologies and its subsidiaries, which include TAE Power Solutions and TAE Life Sciences.
TMTG indicated it aims to begin construction of “the world’s first utility-scale fusion power plant” in 2026, with the goal of utilizing fusion power to support the intensive data centers underpinning artificial intelligence development, according to the company’s statement.
