Trump Media & Technology Group, the company behind President Donald Trump’s Truth Social platform, is set to merge with fusion energy company TAE Technologies in a deal valuing the combined business at more than $6bn (£4.4bn).
The tie-up, announced by the two companies on Thursday, marks a striking strategic pivot for Trump Media, taking it beyond social media and financial products into the fast-developing world of next-generation energy. The firms said the transaction would create one of the world’s first publicly listed fusion energy companies.
Fusion power, long touted as a potential holy grail of clean energy, generates electricity by replicating the reactions that power the sun, releasing vast amounts of energy with minimal radioactive waste. While commercial viability has remained elusive, renewed interest has been fuelled by surging electricity demand, particularly from artificial intelligence data centres, and the search for reliable low-carbon power.
Under the terms of the agreement, Trump Media and TAE Technologies will each hold a 50 per cent stake in the combined business once the transaction completes, which is expected by mid-2026, subject to regulatory and shareholder approval. The new group plans to begin construction of what it claims will be the world’s first utility-scale fusion power plant as early as next year, with additional facilities to follow.
The merged company will be overseen by a nine-member board, including Trump Media chief executive Devin Nunes, who will serve as co-chief executive, and Donald Trump Jr. TAE Technologies’ leadership team will also retain significant influence over the company’s scientific and engineering direction.
TAE Technologies, which counts Google and Goldman Sachs among its backers, has raised more than $1.3bn in private funding. Alongside its fusion research, the group develops energy storage and power delivery technologies for batteries and electric vehicles, while its life sciences arm applies related technology to cancer treatments.
Devin Nunes described the deal as a step towards “a revolutionary technology that will cement America’s global energy dominance for generations”, calling fusion power the most significant energy breakthrough since the mid-20th century. He said Trump Media would provide the capital and access to public markets needed to help bring the technology closer to commercial reality.
As part of the merger, Trump Media will inject up to $200m (£149m) in cash into TAE Technologies at completion, with a further $100m (£74.7m) available once the transaction is formally registered.
The move comes as Trump Media continues to struggle financially. The company, which derives most of its revenue from advertising on Truth Social, has posted consistent losses since its launch. In its most recent quarterly results, it reported declining revenues and a net loss of $54.8m (£40.9m).
Despite those challenges, the merger signals an ambitious attempt to reposition Trump Media as a player in one of the most capital-intensive and politically strategic sectors of the global economy, at a time when governments and investors alike are racing to secure long-term, low-carbon energy supplies.
