The company behind President Donald Trump’s Truth Social platform is to merge with a Google-backed energy company in a deal worth more than $6 billion (£4.4 billion).
Trump Media & Technology Group (TMTG) and TAE Technologies announced the plan in a joint statement Thursday, saying the move “will create one of the world’s first publicly traded nuclear fusion companies.”
Nuclear fusion power generation is a method of generating energy using the heat released by nuclear fusion reactions. It can release enormous amounts of energy with little associated radiation.
The combined company plans to begin construction next year on “the world’s first utility-scale fusion power plant,” with additional plants to follow, the statement said.
Under the merger, both companies will have an equal 50% ownership stake following completion of the transaction, expected by mid-2026, pending regulatory and shareholder approvals.
TAE Technologies provides energy storage and power delivery system technology for batteries and electric vehicles. Its subsidiary, TAE Life Sciences, develops technologies and drugs to treat cancer patients.
Partnering with the company marks a bold and surprising shift for Trump Media as it moves from social media and financial services into the energy sector.
“My company is taking a big step toward a revolutionary technology that will secure America’s global energy dominance for generations,” said Devin Nunes, TMTG Chairman and CEO.
He called fusion power the “most dramatic energy innovation” since the 1950s and said his company would bring “capital and public market access” to make TAE’s technology commercially viable.
The surge in power demand for AI data centers has renewed interest in clean, reliable nuclear power, including restarting shuttered reactors, expanding existing reactors, and awarding contracts for future small modular reactors.
TAE Technologies has raised more than $1.3 billion in funding from other investors, including Google and Goldman Sachs, according to a joint statement.
