Trump Media & Technology Group, the company behind President Donald Trump’s Truth Social platform, is expected to merge with fusion energy company TAE Technologies. The deal will value the combined business at more than $6 billion (£4.4 billion).
The combination, announced by the two companies on Thursday, marks a remarkable strategic turning point for Trump Media, moving beyond social media and financial products into the rapidly evolving world of next-generation energy. The companies said the deal would create one of the world’s first publicly traded fusion energy companies.
Long touted as the potential holy grail of clean energy, fusion energy creates electricity by mimicking the reactions that power the sun, releasing large amounts of energy with minimal radioactive waste. While the economic feasibility remains unclear, renewed interest has been fueled by rising electricity demand, particularly from artificial intelligence data centers, and the search for reliable, low-carbon energy.
Under the terms of the agreement, Trump Media and TAE Technologies will each hold a 50 percent stake in the combined company once the transaction closes, which is expected in mid-2026, subject to regulatory and shareholder approval. The new group plans to begin building what is said to be the world’s first utility-scale fusion power plant next year, with further plants to follow.
The combined company will be overseen by a nine-member board that includes Trump Media CEO Devin Nunes, who will serve as co-CEO, and Donald Trump Jr. TAE Technologies’ leadership team will continue to have significant influence on the company’s scientific and technical direction.
TAE Technologies, whose backers include Google and Goldman Sachs, has raised more than $1.3 billion in private funding. In addition to fusion research, the group develops energy storage and power supply technologies for batteries and electric vehicles, while its life sciences arm uses related technologies in cancer treatment.
Devin Nunes described the deal as a step toward “a revolutionary technology that will cement America’s global energy dominance for generations,” calling fusion energy the most significant energy breakthrough since the mid-20th century. He said Trump Media will provide the necessary capital and access to public markets to bring the technology closer to commercial reality.
As part of the merger, Trump Media will invest up to $200 million (£149 million) in cash in TAE Technologies upon completion, with a further $100 million (£74.7 million) available once the transaction is officially registered.
The move comes as Trump Media continues to struggle financially. The company, which makes the majority of its revenue from advertising on Truth Social, has posted consistent losses since its inception. In its most recent quarterly results, the company reported falling sales and a net loss of $54.8m (£40.9m).
Despite these challenges, the merger signals an ambitious attempt to reposition Trump Media as a player in one of the most capital-intensive and politically important sectors of the global economy, at a time when governments and investors alike are competing to secure long-term, low-carbon energy supplies.
