President Donald Trump’s media company is making a massive pivot, moving from social media to nuclear physics. Trump Media & Technology Group plans to merge with fusion energy developer TAE Technologies in an all-stock deal valued at more than $6 billion.
The companies said the merger would create one of the world’s first publicly traded fusion companies, offering public-market exposure to a sector long dominated by private investment. CBS News reports that TAE is developing nuclear fusion technology to produce energy by fusing atomic nuclei.
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Shareholders of Trump Media, the publicly traded parent of Truth Social, and privately held TAE will each own about 50% of the combined company.
The companies said the deal pairs TAE’s fusion technology with Trump Media’s access to capital to help meet rising demand for artificial intelligence. Devin Nunes, the chief executive of Trump Media, said the company’s assets — roughly $3 billion as of the third quarter of 2025 — could be deployed to “rapidly advance TAE’s fusion technology.”
The Wall Street Journal noted that fusion power is not yet commercially viable and still faces significant scientific and engineering hurdles. Some experts are skeptical it will deliver net power, but Nunes expressed optimism.
“Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s,” Nunes said, “an innovation that will lower energy prices, boost supply, ensure America’s A.I.-supremacy, revive our manufacturing base and bolster national defense.”
By 2031, the joint venture hopes to generate its first power from a planned network of plants. The companies say they plan to begin construction next year on a 50-megawatt plant and later build additional plants generating 350 to 500 megawatts each, subject to regulatory approvals.
Analyst Dan Ives of Wedbush Securities called the merger “a major play on creating the first public nuclear fusion company in the U.S.,” according to CBS News.
How the $6 billion fusion deal would be structured
Under the deal, each TAE share is valued at $53.89, and Trump Media will contribute $200 million in cash at closing, which the companies expect in mid-2026. Politico reports that Trump is Trump Media’s largest shareholder with about 114 million shares that, as of midday Thursday, are worth about $1.6 billion.
Nunes will serve as co-CEO of the combined company alongside TAE Chief Executive Michl Binderbauer, while continuing to lead Trump Media’s brands. Donald Trump Jr., who manages the trust that holds his father’s shares, will be one of nine directors on the new board.
The Journal reports that TAE says more than 25 years of research and development have significantly reduced its reactor size, cost and complexity, and that Nunes described roughly $3 billion in assets amassed by Trump Media by the end of the third quarter as funds it can use to “rapidly advance TAE’s fusion technology.” CBS News said TAE’s backers include Google parent Alphabet, Chevron and Goldman Sachs.
How investors and Trump Media’s business are reacting
Trump Media shares jumped more than 30% Thursday after the deal was announced. However, the stock is still down about 60% for the year. Politico reported that while Trump Media’s business has centered on advertising revenue from Truth Social, it has recently expanded into cryptocurrency markets and streaming. The company has posted several straight quarters of net losses, including a $54.8 million loss for the three months that ended Sept. 30.
