Trump Media to Buy TAE Technologies in $6 Billion All-Stock Deal
The merger aims to combine free-speech infrastructure with fusion power to cement U.S. energy dominance and AI leadership.
**Trump Media & Technology Group (DJT) agreed to acquire TAE Technologies in an all-stock transaction valued at more than $6 billion**, the companies announced Tuesday. The deal would create one of the world’s first publicly traded fusion-power companies and position the combined entity to begin construction of a utility-scale fusion plant in 2026.
Under the terms of the merger agreement, shareholders of each company will own approximately 50% of the combined company on a fully diluted equity basis. Based on Trump Media’s trailing 30-day volume-weighted average share price as of December 17, 2025, the transaction values each share of TAE common stock at $53.89. The deal is expected to close in mid-2026, subject to customary closing conditions, including shareholder and regulatory approvals.
The merger is designed to combine Trump Media’s capital and public-market access with TAE’s fusion technology to accelerate the commercialization of carbon-free energy. Devin Nunes, Trump Media’s chairman and CEO, said the deal would "cement America’s global energy dominance for generations." He added, "Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s—an innovation that will lower energy prices, boost supply, ensure America’s A.I.-supremacy, revive our manufacturing base and bolster national defense".
TAE Technologies, founded in 1998, is a leader in fusion power development, with a focus on economically competitive and sustainable energy solutions. The company has built five fusion reactors and raised more than $1.3 billion in private capital from investors including Google, Chevron Technology Ventures, and Goldman Sachs. TAE also operates subsidiaries in energy storage (TAE Power Solutions) and cancer treatment technologies (TAE Life Sciences). The company’s fusion technology is designed to provide reliable, affordable, and carbon-free electricity without the risks of nuclear meltdown or radioactive waste.
The transaction follows Trump Media’s prior push into energy-adjacent sectors, including a December 2025 announcement of a merger with another fusion startup aimed at advancing America’s energy dominance. That deal, which also carried a national-security and AI-driven rationale, signaled the company’s broader ambition to diversify beyond its core social-media and streaming businesses.
Upon closing, Trump Media will serve as the holding company for Truth Social, Truth+, Truth.Fi, and TAE’s fusion and subsidiary businesses. The combined company will be led by co-CEOs Nunes and TAE CEO Michl Binderbauer, with Michael B. Schwab, founder of Big Sky Partners, expected to chair a nine-member board. Trump Media has agreed to provide up to $200 million in cash to TAE at signing, with an additional $100 million available upon the filing of a Form S-4 registration statement.
Regulatory and shareholder approvals remain key hurdles, though the companies noted Trump Media’s experience with complex capital raises and public listings. The deal is expected to fund the construction of TAE’s first 50-megawatt utility-scale fusion plant, with plans to scale future plants to 350–500 megawatts.