Trump Media & Technology Group, the parent company of former U.S. President Donald Trump’s Truth Social platform, is set to merge with private nuclear fusion firm TAE Technologies in an all-stock deal valued at more than US$6 billion.
Under the agreement, Trump Media CEO Devin Nunes and TAE CEO Michl Binderbauer will serve as co-CEOs of the combined company. Shareholders of Trump Media and TAE will each own roughly 50 per cent of the new entity, which would become one of the first publicly traded nuclear fusion companies.
Trump Media shares, which have fallen about 70 per cent this year, surged nearly 20 per cent in pre-market trading following the announcement. Donald Trump remains the company’s largest shareholder, holding about 41 per cent of outstanding shares.
TAE specializes in nuclear fusion — the same energy process that powers the sun — and the merger comes amid growing U.S. government support for advancing fusion technology. The combined company will operate as a holding firm for Truth Social, TAE Technologies, and its subsidiaries, including TAE Power Solutions and TAE Life Sciences.