TMTG, which owns president’s Truth Social platform, unveils link-up TAE Technologies to respond to AI boom
Donald Trump’s loss-making social media business has announced plans to merge with a fusion power company.
Trump Media and Technology Group, owner of the US president’s minnow Truth Social platform, unveiled an extraordinary merger worth more than $6bn with TAE Technologies, combining its social media operation with a vast bet on the AI boom driving a surge in energy demand.
TMTG intends to start building “the world’s first utility-scale fusion power plant” next year, it said, in an effort to use the experimental technology to power the huge datacenters behind the development of AI.
Shares in TMTG surged 27% during early trading in New York on Thursday.
