Trump Media & Technology Group (DJT) agreed in December to merge with private fusion company TAE Technologies in a deal valued at $6 billion. The transaction would bring fusion energy investing to public markets for the first time.
Trump Media & Technology Group Corp., DJT
TAE, based in Foothill Ranch, California, has been working on fusion technology since 1998. The company’s latest research reactor, nicknamed “Norm,” is a 40-foot device that CEO Michl Binderbauer says has convinced the team it can build a commercial power plant.
The combined company plans to break ground this year on a fusion facility that would eventually scale to 50 megawatts of output — enough to power tens of thousands of homes. The target for first electricity generation is 2031.
No fusion system has yet reliably produced more energy than it consumes.
TAE was facing a capital squeeze before the deal came together. The company had raised nearly $1.4 billion since 2000, among the largest totals in the fusion sector, but needed several billion more to build its next-stage reactor. Investor commitments had been falling through, according to longtime backer Michael Schwab.
The merger provides TAE with up to $200 million at signing and an additional $100 million upon filing regulatory documents.
Trump Media CEO Devin Nunes and TAE CEO Binderbauer will serve as co-CEOs of the combined entity. Schwab is set to become chairman when the deal closes.
TAE’s approach uses a field-reversed configuration reactor. It fires neutral hydrogen particle beams to heat and spin plasma, creating a stable magnetic field. The company eventually wants to fuse hydrogen and boron, a combination that requires hotter plasma than rival approaches but avoids radioactive waste.
Critics note that TAE’s fuel choice poses a harder physics challenge. At the extreme temperatures required, plasma radiates energy and cools rapidly. George Tynan, a nuclear science professor at MIT, compared it to heating a mountain cabin in a blizzard with the windows open.
Former Energy Secretary Ernest Moniz, who sits on TAE’s board, acknowledged the risks but expressed measured confidence in the team’s approach.
Separately, Trump Media has disclosed it is weighing a spin-off of Truth Social into its own publicly traded company. The potential separation would be structured as part of the broader TAE merger transaction.
If it proceeds, shareholders could receive stakes in a separately listed social-media business, leaving the parent company holding the energy and other assets.
A second development drawing attention is the resignation of Robert Lighthizer from Trump Media’s board, effective March 6, 2026. The company said the departure was unrelated to any dispute with management.
DJT’s stock continues to trade well below its earlier meme-driven peaks. The company still reports limited revenue and substantial losses, making conventional valuation difficult.
Nunes dismissed those concerns, saying the company is not seeking preferential treatment.
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