Truth Social parent Trump Media to merge with nuclear fusion energy firm

Trump Media & Technology Group, the parent company of Truth Social, announced a merger with TAE Technologies to enter the field of nuclear fusion research.

The deal values the companies at $6 billion and is a significant shift for President Donald Trump’s social media firm. It aims to create one of the world’s first publicly traded fusion energy companies and will construct reactors designed to support the significant energy requirements of artificial intelligence.

Construction of a utility-scale power plant is expected to begin in 2026, which will provide clean, carbon-free energy.

The announcement provided an immediate 42% boost to Trump Media’s stock. It was down 60% this year before that.

Under the agreement, Trump Media will provide up to $300 million in capital to TAE, with Devin Nunes and Michl Binderbauer serving as co-CEOs.

Nuclear fusion does not create radioactive waste and promises virtually limitless energy like the sun. But it was achieved for the first time in 2022 in lab conditions, and the technology has yet to be scaled for commercial use.