Trump Media and Technology Group (TMTG), the parent company of Truth Social, has announced plans to merge with TAE Technologies, a California-based fusion energy company, in an all-stock deal valued at more than $6 billion.
The proposed merger would mark Trump Media’s entry into the emerging fusion power sector, at a time when demand for electricity is surging due to the rapid expansion of artificial intelligence and data centres. The deal, disclosed on Thursday, would combine a politically influential media company with one of the longest-running private efforts to commercialise fusion energy.
TMTG, which went public last year through a merger with a special-purpose acquisition company (SPAC), has struggled to generate significant revenue from its core businesses. In the quarter ending September 30, 2025, the company reported a loss of $54.8 million on revenue of just under $1 million. Despite this, it has accumulated $3.1 billion in assets, largely through cryptocurrency-related investments and partnerships.
TAE Technologies has been pursuing fusion power research for nearly three decades and has raised close to $2 billion from investors, including Google, Chevron Technology Ventures, and New Enterprise Associates. The company was most recently valued at about $1.8 billion and continues to develop experimental fusion systems designed to produce clean, continuous energy.
According to the companies, the merged entity plans to begin construction next year on what they describe as the world’s first utility-scale fusion power plant, with an initial capacity of 50 megawatts. Future facilities are expected to generate between 350 and 500 megawatts of electricity.
TMTG chief executive Devin Nunes said the acquisition would help secure long-term US energy leadership, while acknowledging that fusion technology remains unproven at commercial scale. Only one experimental fusion device worldwide has so far demonstrated the ability to generate more energy than it consumes, and several other well-funded startups are racing to bring fusion onto the grid in the early 2030s.
TAE has faced repeated technical challenges over the years, but continues to refine a system that uses magnetic fields and rotating plasma to stabilise fusion reactions. Alongside its energy work, the company has also launched a life sciences division, commercialising particle accelerator technology for cancer treatment.
Following completion of the merger, Nunes and TAE chief executive Dr Michl Binderbauer are expected to serve as co-CEOs of the combined company. The transaction is subject to customary regulatory and shareholder approvals.
