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Truth Social parent company enters $6bn energy merger
Trump Media & Technology Group (TMTG), the company behind former U.S. President Donald Trump's social platform Truth Social, is merging with TAE Technologies, a Google-backed energy firm specializing in fusion power, in a transaction valued at over $6 billion.
Deal aims to create publicly traded fusion energy leader
The two companies announced the agreement on Thursday, stating the combined entity would become one of the first publicly traded fusion energy companies globally. The merger is expected to finalize by mid-2026, pending regulatory and shareholder approvals.
Under the terms, both firms will hold an equal 50% ownership stake in the new company. The board will consist of nine members, including TMTG's current CEO Devin Nunes, who will serve as co-CEO alongside Donald Trump Jr., the former president's son.
Fusion power plant construction planned for 2026
The joint statement revealed plans to begin building the world's first utility-scale fusion power plant next year, with additional facilities to follow. Fusion energy, which generates power from nuclear fusion reactions, produces minimal radioactivity and could provide vast amounts of clean energy.
TAE Technologies, the energy partner in the deal, develops technology for energy storage, battery systems, and electric vehicle power delivery. Its subsidiary, TAE Life Sciences, also works on advanced cancer treatment technologies and drugs.
Trump Media shifts focus from social media to energy
The merger marks a significant pivot for Trump Media, which has primarily operated in social media and financial services. The company reported a $54.8 million loss in the third quarter ending September, alongside declining revenue.
"This is a big step forward toward a revolutionary technology that will cement America's global energy dominance for generations," Nunes said. He described fusion power as the "most dramatic energy breakthrough" since the 1950s, adding that Trump Media would provide "the capital and public market access" to help commercialize TAE's technology.
Financial terms and investor backing
As part of the agreement, Trump Media will supply up to $200 million in cash to TAE Technologies upon deal completion, with an additional $100 million available after regulatory registration. TAE Technologies has previously raised over $1.3 billion from investors, including Google and Goldman Sachs.
The deal comes amid rising electricity demand from AI data centers, which has renewed interest in nuclear power solutions, including reactor restarts, expansions, and contracts for small modular reactors.
What's next
The companies will seek regulatory and shareholder approvals over the coming months, with the merger expected to close by mid-2026 if all conditions are met.
