Key Points
Trump Media and Technology Group announced a merger agreement with fusion power company TAE Technologies, valued at more than $6 billion.
The all-stock deal, expected to close in mid-2026, would give shareholders of each company roughly half of the combined business.
Trump Media stock, which trades on the Nasdaq under the ticker DJT, jumped sharply in early trading.
Trump Media and Technology Group said Thursday it has agreed to merge with privately held fusion power firm TAE Technologies in an all-stock transaction valued at more than $6 billion.
The deal, which is expected to close in mid-2026, would leave shareholders of both companies owning approximately 50% each of the combined entity.
Shares of Trump Media — which operates former President Donald Trump’s social media platform Truth Social — surged about 33% after the opening bell. The stock had fallen more than 75% from its January highs before Thursday’s rally.
The move marks a dramatic shift for Trump Media as the U.S. intensifies its push to stay ahead of China in artificial intelligence — a race that is driving massive demand for reliable and scalable energy.
Fusion power, often described as the holy grail of clean energy, has yet to reach commercial production. No plants currently generate electricity using fusion, but the technology promises abundant power without many of the risks associated with traditional nuclear energy.
In a press release, the companies said the merger would create “one of the world’s first publicly traded fusion companies.”
Under the agreement, Trump Media will provide up to $200 million in cash to TAE at signing, with an additional $100 million available after the filing of a regulatory document known as a Form S-4.
Trump Media Commits Up to $300 Million in Staged Funding
Capital deployment is structured around regulatory milestones rather than released all at once.
Why the deal is structured this way
Staging the funding allows Trump Media to limit upfront exposure while maintaining strategic flexibility. Tying additional capital to the Form S-4 filing aligns funding with regulatory progress, a standard safeguard in transactions that carry approval and execution risk.
Trump Media Chairman Devin Nunes and TAE CEO Dr. Michl Binderbauer will serve as co-CEOs of the combined company.
Speaking on a brief conference call Thursday morning, Nunes said the deal fits Trump Media’s “America-first principles” and its focus on technologies that could deliver long-term value and major societal impact. The call lasted about eight minutes, and listeners were not allowed to ask questions.
Nunes also said Trump Media held more than $3 billion in assets as of November, much of it tied to the company’s growing bitcoin holdings as it expanded into crypto and financial services.
Despite that asset base, Trump Media continues to struggle on the revenue front. In the quarter ending Sept. 30, the company reported a $54.8 million net loss on less than $1 million in revenue, down from the prior year.
Once the deal closes, Trump Media & Technology Group will become the holding company for Truth Social, Truth+, and Truth. Fi, as well as TAE, TAE Power Solutions, and TAE Life Sciences, among other units.
Donald Trump indirectly owns more than 114 million shares of Trump Media. Before taking office in January, he transferred that stake to a revocable trust controlled by his eldest son, Donald Trump Jr.
Looking ahead, the combined company says it plans to build “the world’s first utility-scale fusion power plant,” pending regulatory approvals.
“Fusion power plants are expected to provide economic, abundant, and dependable electricity that would help America win the A.I. revolution and maintain its global economic dominance,” the companies said.
TAE Technologies says it holds 1,600 patents and has raised more than $1.3 billion from investors, including Google, Chevron, and Goldman Sachs.
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