Trump Media & Technology Group, the company behind former President Donald Trump’s social media platform Truth Social, announced on Thursday that it will merge with fusion energy company TAE Technologies in a transaction valuing the combined business at more than $6 billion (£4.4 billion). The deal represents a major strategic shift for Trump Media, moving beyond social media and financial products into the rapidly evolving field of next-generation energy.
The companies said the merger would create one of the first publicly listed fusion energy enterprises in the world. Fusion power, which generates electricity by replicating the reactions that occur in the sun, has long been seen as a potential breakthrough for clean energy, producing vast amounts of power with minimal radioactive waste. While commercial fusion has remained elusive, recent surges in electricity demand, particularly from AI data centres, and the drive for low-carbon power have renewed interest in the technology.
Under the agreement, Trump Media and TAE Technologies will each hold a 50 percent stake in the combined company once the merger is complete. The transaction, expected to close by mid-2026 pending regulatory and shareholder approval, plans to kick off construction of what the companies say will be the world’s first utility-scale fusion power plant as early as next year, with additional facilities to follow.
The merged entity will be governed by a nine-member board, with Trump Media CEO Devin Nunes serving as co-chief executive alongside TAE Technologies leadership. Donald Trump Jr. will also have a role in the new group. TAE Technologies’ team will retain significant influence over the company’s scientific and engineering direction.
TAE Technologies, which counts Google and Goldman Sachs among its investors, has raised more than $1.3 billion in private funding. In addition to its fusion research, the company develops energy storage and power delivery technologies for electric vehicles and applies related innovations in life sciences, including cancer treatments.
Devin Nunes described the merger as a step toward “a revolutionary technology that will cement America’s global energy dominance for generations,” calling fusion power the most important energy breakthrough since the mid-20th century. He said Trump Media would provide the capital and access to public markets necessary to bring the technology closer to commercial deployment.
As part of the deal, Trump Media will invest up to $200 million (£149 million) in TAE Technologies at completion, with an additional $100 million (£74.7 million) available once the transaction is formally registered.
The merger comes as Trump Media continues to face financial challenges. The company, which generates most of its revenue from advertising on Truth Social, has posted consistent losses since its launch, including a net loss of $54.8 million (£40.9 million) in its most recent quarter.
Despite these struggles, the move represents an ambitious attempt to reposition Trump Media as a player in a highly capital-intensive and strategically important sector, at a time when governments and private investors are racing to develop long-term, low-carbon energy solutions.
