President Donald Trump’s Social Media Company Moves Into Energy Through $6B Nuclear Fusion Merger – AfroTech
President Donald Trump’s social media company is expanding into the energy sector through a planned merger with a nuclear fusion startup.
According to The New York Times, Trump Media & Technology Group, the parent company of Truth Social, has reached an agreement to merge with TAE Technologies, a privately held nuclear fusion company, in an all-stock deal valued at more than $6 billion. The merger would result in one of the first publicly traded companies focused on developing fusion power.
Trump Media, based in Sarasota, FL, operates Truth Social and has recently expanded into streaming and cryptocurrency-related ventures, per the outlet. President Trump is the company’s largest shareholder, with just over a 50% stake that is held in a trust managed by his eldest son, Donald Trump Jr., who also serves on the company’s board.
TAE Technologies was founded in 1998 under the name Tri Alpha Energy and has been working on fusion reactor development for many years, according to the company’s website. Fusion energy seeks to generate electricity by replicating the same process that powers stars. Unlike traditional nuclear fission, fusion does not produce long-term radioactive waste and does not carry the risk of a meltdown, notes the company. The technology remains under development and has not yet been deployed at a commercial scale.
Under the terms of the proposed deal, shareholders of Trump Media and TAE would each hold approximately 50% ownership of the combined company, reports The New York Times. The companies said construction on a “utility-scale fusion power plant” could begin as early as 2026. Devin Nunes, CEO of Trump Media, and Michl Binderbauer, CEO of TAE, are set to serve as co-chief executives of the combined entity, per the outlet.
Binderbauer said the merger would allow TAE to access public market funding needed to advance its technology.
“We’ve got the tools and the tech and the engineering,” Binderbauer told The New York Times. “What we were lacking was the capital.”
While government laboratories have made significant progress in fusion research in recent years, consistently producing fusion energy at a sustainable cost for large-scale power grids remains a challenge.
According to The New York Times, interest in fusion energy has grown alongside rising electricity demand driven by artificial intelligence and large data centers. Several technology companies and investors have identified fusion as a potential long-term energy source. Other startups pursuing commercial fusion include Commonwealth Fusion Systems and Helion Energy, the latter backed by OpenAI CEO Sam Altman.
TAE’s technology differs from other fusion approaches by using alternative fuel sources, which the company says could simplify reactor operations and reduce maintenance requirements, The New York Times notes. The company has built five fusion reactors and raised more than $1.3 billion in funding over the years. Its most recent funding round in June, announced in a press release on its website, included backing from Chevron and Google. The British government has also announced a joint venture with TAE focused on fusion technology.
Per The New York Times, the merger’s announcement comes as China continues to increase public investment in fusion research, including billions of dollars directed toward state-backed initiatives. In contrast, fusion development in the United States has largely been driven by private companies rather than federal research programs.
The merger of Trump Media and TAE Technologies coincides with the Trump administration’s push to accelerate approvals for nuclear energy projects, which have primarily focused on conventional reactors. Executive orders in recent months aimed to streamline regulatory processes and revise safety standards, as The New York Times reported.
During a brief investor call, Nunes said the deal fits the company’s overall strategy.
“Fusion power will lower energy prices, bolster our national defense and secure the energy needed to guarantee America’s dominance of A.I. technology,” Nunes explained, according to The New York Times.
The proposed transaction must be approved by Trump Media shareholders and cleared by securities regulators. Following the announcement, Trump Media’s stock rose 42%, closing at $14.86 per share after declining more than 60% earlier in the year, the outlet reports.
