Trump Media merges with nuclear fusion company in USD6b deal
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The news: US President Donald Trump’s media company, Trump Media & Technology Group, has agreed to merge with nuclear-fusion company TAE Technologies to support the energy supply for the AI technology boom.
The numbers: The companies said that the all-stock deal values each share of TAE stock at USD53.89 ($81.57), valuing the deal at more than USD6 billion valuation.
Upon closing, shareholders of each company will own approximately 50% of the combined company on a fully diluted equity basis.
Shares in Trump Media, which is controlled by the President’s family and runs social media platform Truth Social, jumped as much as 37.5% in premarket US trading.
The context: The companies that that the deal combines Trump Media’s access to “significant capital” with TAE’s “leading fusion technology.” The combined company plans to begin construction on the world’s first utility-scale fusion power plant (50MW) in 2026 and plan to build additional fusion power plants to supply 350 to 500 MW.
Devin Nunes, Trump Media chairman and CEO, and Dr Michl Binderbauer, TAE CEO and director, plan to serve as Co-CEOs of the combined company; Michael B. Schwab, founder and managing director of Big Sky Partners, is expected to be named chairman of a planned nine-member board of directors.
The US firm TAE is backed by Google and Chevron.
What they said: Nunes said: “Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations. Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s—an innovation that will lower energy prices, boost supply, ensure America’s A.I.-supremacy, revive our manufacturing base and bolster national defense. TMTG brings the capital and public market access to quickly move TAE’s proven technology to commercial viability.”
The source: TAE press release
