The company behind President Donald Trump’s Truth Social platform is merging with a Google-backed energy company in a deal valued at more than $6 billion.
Trump Media & Technology Group (TMTG) and TAE Technologies announced their plans on Thursday in a joint statement, saying the move would “create one of the world’s first publicly traded fusion energy companies,” the BBC reported .
The statement said the combined company plans to begin construction of the “world’s first utility-scale fusion power plant” next year, with further plants to be built later.
As part of the merger, both companies will have an equal 50% ownership stake upon completion of the deal, which is expected by mid-2026, subject to regulatory and shareholder approval.
The combined company will have a nine-member board of directors, including current Trump Media CEO Devin Nunes, who will be co-CEO of the new firm, and the President’s son Donald Trump Jr.
TAE Technologies supplies technologies for energy storage and power delivery systems for batteries and electric vehicles. Its parent organization, TAE Life Sciences, develops technologies and medicines for the treatment of cancer patients.
The merger with the energy company was a radical and unexpected turn in Trump Media’s strategy. The company, which previously focused on social media and finance, is now entering the energy market.
Nunes said his firm is “taking a major step toward a revolutionary technology that will cement America’s global energy dominance for generations.”
Calling fusion energy “the most spectacular energy breakthrough” since the 1950s, he said Trump Media would provide “capital and access to public markets” to help make TAE technology a profitable commercial product.
As part of the deal, Trump Media will provide TAE Technologies with up to $200 million in cash upon signing the deal. An additional $100 million will be available upon closing.
The growing demand for electricity for AI-powered data centers has revived interest in cleaner and more reliable nuclear power, including restarting shuttered reactors, expanding existing ones, and signing contracts for future small modular reactors.
The joint statement said TAE Technologies has raised more than $1.3 billion in funding from other investors, including Google and Goldman Sachs.
Trump Media, which derives its revenue primarily from advertising on its Truth Social platform, has been consistently losing money since its founding, posting a revenue decline and a loss of $54.8 million in the third quarter ended in September.