Shares of Trump Media & Technology Group jumped around 40% to approximately $14.71 in midday trading on Thursday after the company announced a merger with privately held fusion energy firm TAE Technologies.
The all-stock deal values the combined company at more than $6 billion. Under the agreement, shareholders of Trump Media and TAE Technologies will each own roughly 50% of the merged entity on a fully diluted basis. The transaction has been approved by the boards of both companies and is expected to close in mid-2026, subject to shareholder and regulatory approvals.
As part of the merger, Trump Media will provide up to $200 million in cash to TAE at signing. An additional $100 million may be made available once the Form S-4 registration statement is initially filed.
The newly combined company plans to begin construction in 2026 on what it says would be the world’s first utility-scale fusion power plant, with an initial capacity of 50 megawatts of electricity, pending required approvals. The companies also outlined plans for additional facilities with capacities ranging from 350 to 500 megawatts.
Trump Media Chairman and CEO Devin Nunes and TAE Technologies CEO Dr. Michl Binderbauer will serve as co-chief executives of the merged company. Michael B. Schwab, founder and managing director of Big Sky Partners, is expected to become chairman of a proposed nine-member board.
Following the announcement, Nunes said the merger represents a major step toward advancing fusion energy in the United States. He described fusion power as a transformative technology that could strengthen U.S. energy leadership, lower energy costs, support artificial intelligence growth, revive manufacturing, and enhance national security.
Founded in 1998, TAE Technologies has raised more than $1.3 billion in private funding from investors including Google, Chevron Technology Ventures, Goldman Sachs, and Sumitomo Corporation of Americas. The company has built and operated five fusion reactors and holds more than 1,600 patents.
