Trump Media & Technology will merge with a fusion power company in an all-stock deal that the companies said Thursday is valued at more than $6 billion.
Devin Nunes, the Republican congressman who resigned in 2021 to become the CEO of Trump Media, will be co-CEO of the new company with TAE Technologies CEO Michl Binderbauer.
The combined company says it plans to find a site and begin construction next year on the “world’s first utility-scale fusion power plant,” with aims to provide the electricity needed for artificial intelligence.
Shares of Trump Media & Technology, the parent company of President Donald Trump’s Truth Social media platform, have tumbled 70% this year but jumped 20% before the opening bell Thursday.
Backed by Google and other investors, TAE is a private company and the merger with Trump Media would create one of the first publicly traded nuclear fusion companies.
