Trump Media & Technology Group said on Thursday (December 17) it will merge with nuclear fusion company TAE Technologies in an all-stock transaction valued at more than $6 billion, a surprise move that would make the combined entity one of the first publicly traded fusion energy companies.
Under the deal, Trump Media — the parent of US President Donald Trump’s Truth Social platform — and privately held TAE Technologies will each own roughly 50% of the combined company. The transaction values TAE’s common stock at $53.89 per share, the companies said.
Devin Nunes, the former Republican congressman who stepped down from Capitol Hill in 2021 to become chief executive of Trump Media, will serve as co-CEO of the new company alongside TAE Technologies CEO Michl Binderbauer.
“We’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations,” Nunes said in a statement.
Market reaction
Shares of Trump Media & Technology Group, which have fallen about 70% so far this year, jumped around 20% in pre-market trading following the announcement.
Trump remains the dominant shareholder in Trump Media, holding about 41% of the company’s outstanding shares.
A rare public fusion play
TAE Technologies focuses on nuclear fusion, an emerging energy technology that seeks to replicate the process powering the sun and stars by fusing light atomic nuclei to release vast amounts of energy. Unlike nuclear fission, fusion does not produce long-lived radioactive waste, making it a long-sought goal for clean energy advocates.
The merger would position the combined company as one of the first publicly traded firms focused on fusion energy, a sector that has largely remained in private hands.
Policy backdrop
The announcement comes as US policymakers push to accelerate fusion development. In October, the US Department of Energy released a “roadmap” aimed at speeding the commercialisation of fusion technology and supporting the growth of a domestic private-sector fusion industry.
Post-merger structure
Following the transaction, Trump Media & Technology Group will become a holding company for Truth Social and TAE Technologies, as well as TAE subsidiaries including TAE Power Solutions and TAE Life Sciences.
The companies did not disclose a timeline for closing the deal, which is subject to regulatory and shareholder approvals.
