In a move that blends social media with cutting-edge energy technology, the company behind Donald Trump's Truth Social platform has unveiled plans for a multi-billion dollar merger with a nuclear fusion firm. The aim is to address the soaring electricity demands of the artificial intelligence boom.
A Surprising $6 Billion Alliance
Trump Media and Technology Group (TMTG), the owner of the former US president's Truth Social app, announced an extraordinary merger plan with TAE Technologies, a fusion power company backed by Alphabet's Google and oil giant Chevron. The deal is valued at over $6 billion.
Shareholders of both companies will each own approximately 50% of the combined entity once the merger is finalised, which is expected to occur by mid-2026. Following the announcement, shares in TMTG jumped by 22% in early trading in New York.
Fusion Power for the AI Revolution
The driving force behind the merger is the tech industry's insatiable appetite for power. The development of artificial intelligence requires vast datacentres, which consume enormous amounts of electricity. TMTG stated its intention to start constructing "the world's first utility-scale fusion power plant" as early as next year.
Nuclear fusion, the process that powers the sun, promises a future of abundant energy without the pollution, radioactive waste, or greenhouse gases associated with traditional sources. TAE Technologies specialises in developing cost-effective neutral beam systems critical for this experimental technology.
Devin Nunes, Chairman and CEO of TMTG, framed the merger as a strategic national move. "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," he said.
Challenging Finances Meet Ambitious Vision
The merger announcement comes as TMTG seeks a new direction amid financial struggles. The company's core asset, the Truth Social platform which Trump uses regularly, has failed to translate into significant revenue.
For the three months ending 30 September, TMTG reported sales of just $927,900, a decrease from the $1.01 million reported the previous year. Its losses also widened substantially to $54.8 million, compared to $19.2 million in the same quarter of 2024.
Nunes argued that TMTG brings the necessary capital and public market access to accelerate TAE's technology to commercial viability. "Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s," he claimed, suggesting it would lower energy prices, boost supply, and ensure American AI supremacy.
The new combined company will be led by co-CEOs: Devin Nunes and TAE's CEO, Michl Binderbauer. The deal has been approved by the boards of both companies.
