Trump Media & Technology Group Corp. (DJT) has agreed to merge with privately held fusion‑energy company TAE Technologies in an all‑stock transaction valued at more than $6 billion. The deal will give each company’s shareholders an equal 50% stake in the combined entity upon closing, which is expected to occur in mid‑2026 after regulatory and shareholder approval.
TAE, founded in 1998, has pursued magnetic‑confinement fusion for over two decades and has raised more than $1.3 billion from investors such as Google and Chevron. The company’s Field‑Reversed Configuration (FRC) platform has recently achieved a 30‑second plasma pulse, a milestone that brings the first utility‑scale fusion plant closer to reality. The merged company plans to site and begin construction of the world’s first utility‑scale fusion power plant in 2026, with subsequent projects targeting 350–500 MW of capacity to power data centers and other energy‑intensive operations.
DJT has been operating at a loss, reporting a net loss of $54.8 million on revenue of $0.97 million in Q3 2025, a 4.0% decline from the same period last year. The company’s cash position, however, stands at $3.1 billion, largely due to a $2.44 billion private placement in May 2025. The merger is a strategic pivot designed to diversify DJT’s revenue base and provide a new growth engine that could offset the ongoing decline in its core media segment.
The transaction positions DJT to tap into the growing demand for clean, abundant electricity that could support artificial‑intelligence data centers and other high‑power consumers. By pairing its public‑market capital access with TAE’s advanced technology, DJT aims to create a new growth engine that could offset the ongoing decline in its core media segment.
Under the terms of the deal, DJT will provide up to $200 million of cash to TAE at signing and an additional $100 million upon filing the S‑4 registration statement. The exchange ratio values each share of TAE common stock at $53.89, based on DJT’s trailing 30‑day VWAP as of December 17 2025, implying a pre‑merger valuation of roughly $2.6 billion for TAE.
Regulatory and shareholder approval are required before the transaction can close. The parties anticipate a closing date in mid‑2026, subject to the completion of due diligence and the receipt of necessary approvals from the U.S. Securities and Exchange Commission and the relevant antitrust authorities.
Market reaction to the announcement was strong, with analysts noting the strategic shift into a high‑growth, capital‑intensive sector. The deal was seen as a bold move that could transform DJT’s fortunes, but investors also highlighted the significant technical and regulatory challenges that remain before fusion power can become commercially viable.
CEO Devin Nunes said the merger would “lower energy prices, boost supply, and ensure America’s AI supremacy,” while TAE CEO Michl Binderbauer emphasized the partnership’s potential to accelerate the commercialization of fusion technology.
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