Trump Media & Technology Group Corp. (NASDAQ: DJT) has agreed to merge with private fusion developer TAE Technologies, Inc. in an all-stock transaction valued at more than US$6 billion.
The companies announced Thursday that shareholders from each firm will own roughly 50 per cent of the combined entity on a fully diluted basis.
The deal aims to create one of the world’s first publicly traded fusion energy companies, according to the announcement. Additionally, the transaction pairs TMTG’s public market access and cash position with TAE’s decades-long fusion research program.
The combined company plans to begin siting and construction of a 50-megawatt electric fusion power plant in 2026, pending approvals. Further, executives expect future fusion facilities to scale between 350 and 500 megawatts of electrical output.
Fusion advocates believe the technology could provide reliable electricity without carbon emissions or long-lived radioactive waste. Meanwhile, supporters argue that dependable fusion power could support artificial intelligence data centers and domestic manufacturing growth.
TMTG will contribute capital to accelerate commercialization under the agreement’s financing terms. In addition, TMTG has committed up to US$200 million in cash at signing and another US$100 million after an initial Form S-4 filing.
The companies stated that this funding would help advance reactor development and site preparation. TAE has spent more than 25 years refining a proprietary fusion approach designed to reduce reactor size and cost.
Additionally, the company has built and operated five experimental fusion reactors without major safety incidents. TAE has raised more than US$1.3 billion in private funding from strategic and financial investors.
Those backers include Alphabet Inc (NASDAQ: GOOG), Chevron Technology Ventures (NYSE: CVX), Goldman Sachs (NYSE: GS), Sumitomo Corporation of Americas and NEA.
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Fusion offers safer energy profile
Furthermore, several family offices connected to Charles Schwab and other prominent investors have participated in earlier rounds. TAE executives say recent technical breakthroughs have positioned the company for commercial deployment.
However, fusion energy has historically struggled to transition from laboratory success to grid-scale reliability. Unlike traditional nuclear fission, fusion combines light atoms and produces energy through controlled plasma reactions.
Consequently, fusion proponents argue the technology offers a fundamentally safer energy profile. The merged entity plans to operate as a diversified holding company under the Trump Media & Technology Group umbrella.
Upon closing, the company will house Truth Social, Truth+, Truth.Fi, TAE, TAE Power Solutions and TAE Life Sciences. Meanwhile, TMTG Chairman and CEO Devin Nunes and TAE CEO Dr. Michl Binderbauer will serve as co-chief executives.
Additionally, Big Sky Partners founder Michael B. Schwab is expected to chair a nine-member board. Nunes framed the deal as an expansion beyond social media into strategic energy infrastructure. He said the company wants to apply its capital base to technologies that strengthen national competitiveness.
Binderbauer emphasized that TAE’s research team has focused on solving energy scarcity through sustained scientific progress. Furthermore, he said recent results allow the company to move from experimentation toward deployment.
The companies released supplemental investor presentations on their respective websites outlining technical and financial assumptions. Based on TMTG’s trailing 30-day volume-weighted average price as of December 17, 2025, the transaction assigns a US$53.89 value to each TAE share.
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Fusion developers attractive to governments and private capital
That valuation applies on a fully diluted basis, according to the filing materials. Additionally, the boards of directors at both companies have already approved the merger agreement. The deal remains subject to shareholder votes and regulatory review before closing.
The companies expect the transaction to close by mid-2026 if approvals proceed as planned. However, fusion power remains an emerging technology with regulatory, engineering and cost uncertainties.
Industry analysts continue to debate how quickly fusion plants can achieve commercial uptime. Conversely, rising power demand from artificial intelligence workloads has renewed interest in next-generation energy sources.
As a result, fusion developers have attracted increased attention from governments and private capital.
The merger positions DJT as an unusual entrant into the advanced energy sector through public markets. Subsequently, investors will gain exposure to fusion development alongside TMTG’s existing media and technology assets.
The announcement comes as competition intensifies among fusion startups racing toward first-of-kind commercial plants. Additionally, success would mark a significant milestone for fusion’s long-promised role in global energy systems.
The combined company plans to release additional project updates as site selection progresses.
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