The company that owns US President Donald Trump’s Truth Social media firm is making a surprise bet on nuclear fusion after announcing a 6.0 billion US dollar (£4.5 billion) merger with Google-backed TAE technologies.
US-listed Trump Media & Technology will merge with privately-owned TAE Technologies in a move that will create one of the first publicly traded nuclear fusion firms.
Trump Media & Technology said it plans to build “the world’s first, utility-scale, fusion power plant” next year as it looks to use the new technology to help power giant datacentres behind the advance of artificial intelligence.
TAE focuses on nuclear fusion – a technology that combines two light atomic nuclei to form a single heavier one, releasing large-scale amounts of energy.
The firm is backed by Alphabet’s Google and oil giant Chevron.
TAE and Trump Media shareholders will each own about 50% of the merged company.
After the deal is completed, Trump Media & Technology Group will be the holding company for Truth Social and TAE, as well as its subsidiaries TAE Power Solutions and TAE Life Sciences.
The tie-up will value each TAE share at 53.89 US dollar (£40.14) per share, according to the firms.
Former Republican congressman Devin Nunes, who resigned in 2021 to become the chief executive of Trump Media, will be the co-chief executive of the new company, alongside TAE Technologies boss Michl Binderbauer.
Mr Nunes said: “We’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations.”
