Trump Media & Technology Group (TMTG), the company behind President Donald Trump’s Truth Social platform, is merging with TAE Technologies, a Google-backed energy firm, in a deal valued at more than $6 billion.
The joint announcement on Thursday described the merger as a step toward creating one of the world’s first publicly traded fusion power companies. Fusion power, which generates energy from heat released by nuclear fusion reactions, promises vast amounts of electricity with minimal radioactive waste, a potential breakthrough in clean energy technology.
The combined company plans to begin construction of the world’s first utility-scale fusion power plant next year, with additional plants expected to follow. Both firms will hold equal 50% ownership once the deal closes, which is expected by mid-2026 pending regulatory and shareholder approvals.
The new entity will be governed by a nine-member board, including Trump Media’s current CEO Devin Nunes, who will serve as co-CEO alongside TAE executives. Donald Trump Jr. will also take a leadership role, underscoring the Trump family’s continued involvement in the venture.
TAE Technologies is known for its work in energy storage and power delivery systems, supporting batteries and electric vehicles. Its parent organisation, TAE Life Sciences, also develops technologies and treatments for cancer patients. The partnership marks a dramatic shift for Trump Media, which has historically focused on social media and financial services, into the energy sector.
Mr Nunes described the merger as “taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations.” He called fusion power the “most dramatic energy breakthrough” since the 1950s, adding that Trump Media would provide “the capital and public market access” to make TAE’s technology commercially viable.
As part of the deal, Trump Media will provide up to $200 million (£149 million) in cash to TAE upon completion, with an additional $100 million (£74.7 million) available once the transaction is registered. TAE has already raised over $1.3 billion from investors, including Google and Goldman Sachs, highlighting the growing appetite for advanced nuclear energy solutions.
The timing of the deal aligns with surging electricity demand from AI data centers, which has reignited interest in clean, reliable nuclear power. Across the globe, utilities are exploring options such as restarting shuttered reactors, expanding existing facilities, and planning small modular reactors to meet future energy needs.
For Trump Media, the deal also represents a chance to offset persistent financial losses. The company, which earns most of its revenue from advertising on Truth Social, posted a third-quarter loss of $54.8 million (£40.9 million), alongside declining revenues, illustrating the challenges the platform has faced in a competitive social media market.
By merging with TAE Technologies, Trump Media is positioning itself at the intersection of clean energy innovation and public markets, a bold strategy that could redefine the company’s future beyond its social media roots.
