Trump Media & Technology Group, the parent company of Truth Social, announced a definitive agreement to merge with TAE Technologies, a nuclear fusion energy firm, on 18 December 2025. The all-stock deal valued at more than USD 6 billion marks a massive strategic pivot for Trump Media as it expands beyond social media into high-tech energy infrastructure.
Note that the all-stock deal means that shareholders of Trump Media and TAE will each own approximately 50 percent of the combined company on a fully diluted basis. Trump Media has also committed to providing up to USD 300 million in cash to TAE to fund development. These include 200 million at the time of singing and 100 million upon Form S-4 filing.
The primary driver for the merger is the supposed unprecedented energy demand created by the artificial intelligence boom. Note that data centers, which are used for AI training and inference, require a massive and consistent supply of electricity. Trump Media and TAE aim to profit from the expanding demand using nuclear fusion power for primary electricity generation.
Part of the merger is a combined leadership structure and a restructured board. David Nunes, Trump Media chief executive, and Michl Binderbauer, TAE chief executive, will serve as co-chief executive officers. Nunes will continue to oversee the operations of Trump Media products and brands like Truth Social, while Binderbauer will manage the nuclear fusion business.
A new nine-member board of directors will be formed. These include two directors from Trump Media, specifically Donald J. Trump Jr. and Nunes, two directors from TAE, specifically Michael Schwab and Binderbauer, and five independent directors. Schwab, founder of Big Sky Partners and a long-time TAE backer, is expected to serve as the chairperson of the board.
TAE Technologies has spent over 25 years researching fusion. The merger is intended to accelerate the path to commercial viability. The companies plan to select a site and begin the construction of a 50-megawatt utility-scale fusion power plant in 2026. This will be the first in the world if ever. Future power plants are estimated to produce between 350 and 500 megawatts.
Major investors have backed TAE. These include Alphabet, Chevron, and Goldman Sachs. The energy firm, which is currently based in California, notes that, unlike traditional fusion models, they use a proprietary approach based on hydrogen-boron fuel. The merger aims to leverage the access of Trump Media to capital to hasten its research and development.
Trump Media & Technology Group is a publicly traded company. Its shares surged by more than 30 to 40 percent in a single day following the December 18 announcement. This reflects significant investor interest in the pivot toward the energy sector. The merger with TAE Technologies also gives the latter not only access to financial capital but also to political capital.
FURTHER READING AND REFERENCE
- TAE Technologies. 18 December 2025. “Trump Media and Technology Group to Merge with TAE Technologies.” TAE Technologies. Available online
- Trump Media & Technology Group. 18 December 2025. Trump Media & Technology Group to Merge with TAE Technologies, a Premier Fusion Power Company, in All-Stock Transaction Valued at More than $6 Billion. Trump Media & Technology Group. Available via PDF