Trump Media & TAE Announce $6 Billion All-Stock Merger, Creating One of the First Public Fusion Power Companies
Deal Creates a Public Fusion Power Player and Diversified Tech Platform
Trump Media & Technology Group (TMTG) and TAE Technologies have struck a definitive all-stock merger agreement valued at more than $6 billion, forging one of the world’s first publicly traded fusion energy companies. In a 50/50 split, current shareholders of each firm will own half of the combined company. The entity expects to site and break ground on its inaugural utility-scale fusion power plant as soon as 2026, according to a joint announcement from both companies.
First Utility-Scale Fusion Plant Construction Expected in 2026
The core vision is to construct a 50 megawatt electric (MWe) fusion power plant within two years, with future plants planned at a much larger 350 to 500 MWe scale. This timeline, if met, positions the combined firm at the vanguard of clean energy, targeting a sector where practical fusion power remains an elusive goal for much of the world. According to the companies, commercial fusion energy could be the key to reliable, affordable, and carbon-free electricity for America’s rapidly expanding needs—including artificial intelligence, data centers, manufacturing, and more.
Deal Structure Highlights Capital Strength and Technology Edge
The deal leverages TMTG’s $3.1 billion in financial assets (as of Q3 2025) to accelerate TAE’s decades-long work on fusion. As part of the merger, TMTG will provide $200 million in immediate funding and reserve another $100 million contingent on regulatory filings. The agreement values each share of TAE, on a fully diluted basis, at $53.89, matching TMTG’s 30-day VWAP price as of December 17, 2025.
| Key Deal Terms | Details |
|---|---|
| Merger Value | $6+ Billion (all-stock) |
| Ownership Post-Deal | 50% TMTG / 50% TAE (fully diluted) |
| Initial Fusion Plant Target | 50 MWe, construction to start in 2026 |
| Follow-on Fusion Plant Capacity | 350–500 MWe each |
| Upfront Cash Commitment | $200 Million + $100 Million (contingent) |
| TAE Valuation per Share | $53.89 |
| Board Composition | 9 members: 2 TMTG, 2 TAE, 5 independent |
Leadership Team and Corporate Strategy Stand Out
Devin Nunes (current TMTG CEO) and Dr. Michl Binderbauer (TAE CEO) will serve as Co-CEOs, signaling a leadership team designed for both market and technology execution. Michael B. Schwab is expected to chair the new board, which will oversee a portfolio that spans Truth Social, Truth+, Truth.Fi, TAE’s fusion business, TAE Power Solutions, and TAE Life Sciences. This marks a significant expansion of TMTG’s mission beyond media, putting it at the intersection of technology, energy, and life sciences.
TAE Technologies’ Scientific and Investment Track Record
Founded in 1998, TAE brings a portfolio of over 1,600 patents and has raised $1.3 billion from global leaders like Google, Chevron Technology Ventures, and Goldman Sachs. Its next-gen reactor technology claims reductions in both size and complexity, and TAE has already operated five test reactors. Its 400-person team, including 62 Ph.D.s, underlines its R&D credibility. In addition, TAE’s Power Solutions and Life Sciences subsidiaries position it for broad applications in batteries, electric vehicles, and cancer therapy.
Key Takeaways: Fusion, Capital, and the Public Market
- This deal could launch one of the first large-scale public fusion energy companies in the world.
- TMTG’s capital base accelerates commercialization for TAE’s proven technology.
- With fusion commercialization on the horizon, investors gain diversified exposure to tech, media, and energy sectors under one platform.
The combined firm’s bet on fusion technology—and the massive capital committed—marks an ambitious bid for the future of energy, with profound implications for both the utility sector and American industrial leadership. As always, the actual timeline for commercial fusion power remains a risk factor, but this merger cements both companies as leaders to watch in the years ahead.
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