20 December 2026
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Trump Media & Technology Group (TMTG) has announced an all-stock
merger agreement with TAE Technologies, a private fusion energy company, in a deal valued at over $6 billion. The transaction is expected to close in mid-2026, subject to shareholder and regulatory approvals. Details of the Merger
- Goal: The companies aim to combine TMTG's access to capital and public markets with TAE's fusion technology to commercialize fusion power. The move is partly driven by the massive energy demands of the AI data center boom.
- Combined Entity: Upon closing, the combined company will be the holding company for TMTG's Truth Social platform, as well as TAE's subsidiaries, including TAE Power Solutions and TAE Life Sciences. Shareholders of each original company will own approximately 50% of the combined entity.
- Leadership: TMTG CEO Devin Nunes and TAE CEO Michl Binderbauer plan to serve as co-CEOs of the combined company. Donald Trump Jr. will remain on the board of directors.
- Financials: Trump Media is an all-stock deal and has agreed to provide up to $200 million in cash to TAE upon signing, with another $100 million available upon an initial SEC filing. TMTG's stock (Nasdaq: DJT) surged after the announcement.
- Future Plans: The companies plan to site and begin construction on the world's first utility-scale fusion power plant (50 MWe) in 2026, with larger plants planned for the future.
About TAE Technologies
- TAE Technologies, founded in 1998, is a privately held company focused on developing commercial fusion power.
- It has raised over $1.3 billion in private capital from investors including Google, Chevron Technology Ventures, and Goldman Sachs.
- Fusion energy, which powers the sun, is a carbon-free energy source that produces significantly less radioactive waste and carries no nuclear meltdown risk compared to traditional fission reactors, though commercial viability has not yet been achieved.
The deal is likely to face regulatory scrutiny and has drawn attention due to potential conflicts of interest, as President Trump maintains a majority ownership stake in TMTG through a trust.
Jimmy Kimmel
19 Dec 2025
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