Trump Media & Technology Group shares climbed 18% to $12.33 in premarket trading Thursday after announcing a merger with TAE Technologies. The all-stock deal values the combined company at more than $6 billion.
Trump Media & Technology Group Corp., DJT
The merger pairs Trump Media’s balance sheet with TAE’s fusion technology. Shareholders from each company will own roughly 50% of the new entity on a fully diluted equity basis.
Trump Media will inject up to $200 million in cash to TAE at signing. Another $100 million becomes available when the initial Form S-4 filing happens.
The combined company plans to build what it calls the world’s first utility-scale fusion power plant. The 50 MWe facility could break ground in 2026, pending regulatory approvals.
Additional plants ranging from 350 to 500 MWe are in the pipeline. The focus is providing electricity for artificial intelligence operations.
TAE Technologies has been working on fusion energy since 1998. The company has built and operated five fusion reactors.
Private investors have poured more than $1.3 billion into TAE. Google, Chevron Technology Ventures, and Goldman Sachs are among the backers.
The leadership structure splits control between both companies. Devin Nunes, current Trump Media Chairman and CEO, will serve as co-CEO. Dr. Michl Binderbauer, TAE’s CEO, takes the other co-CEO position.
Michael B. Schwab is expected to chair a nine-member board. Both boards of directors have approved the transaction.
The merged company keeps Trump Media & Technology Group as the holding company name. It will oversee Truth Social, Truth+, and Truth.Fi.
TAE, TAE Power Solutions, and TAE Life Sciences will also fall under the umbrella. The transaction requires shareholder approval from both companies.
Regulatory approvals are also necessary before the deal closes. The companies announced the agreement Thursday morning.
Trump Media shares have been volatile throughout 2025. The stock trades under the ticker DJT on the Nasdaq.
TAE Technologies remains a private company until the merger completes. The fusion energy sector has attracted increased attention as AI computing demands grow.
Data centers powering AI systems require massive amounts of electricity. Fusion energy promises clean power without the waste products of traditional nuclear fission.
The companies filed a joint press release detailing the transaction terms. The Form S-4 registration statement will provide additional details when filed with the SEC.
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