Donald Trump is moving into the fusion energy business, backing a $6bn all-stock merger between his social media company and TAE Technologies, a Google-backed firm pursuing nuclear fusion power.
The deal, announced on Thursday, links Trump Media and Technology Group, the parent company of Truth Social, with one of the longest-running private fusion ventures in the United States. It comes just days after fusion industry representatives pressed Washington for increased federal support, and as soaring electricity demand from AI data centres reignites interest in nuclear power.
Under the agreement, shareholders of Trump Media and TAE will each own roughly 50 percent of the combined entity, which is expected to close in mid-2026. Trump Media will become the holding company for Truth Social, TAE Power Solutions and TAE Life Sciences.
The move adds fusion energy to the Trump family’s expanding portfolio of ventures, which already spans cryptocurrency, real estate and telecom-style services, increasingly blurring the line between political power and private enterprise.
TAE Technologies, founded in 1998, has worked with Google Research for more than a decade on fusion science. Its backers include Chevron and Sumitomo Corporation of Americas. Beyond fusion, the company also runs an energy-storage business and a life sciences arm developing targeted radiotherapy for cancer treatment.
Fusion has long been promoted as a clean, near-limitless energy source, but despite decades of research, no project has yet produced a commercially viable reactor. Major obstacles remain, including generating more energy than a reaction consumes and building systems capable of withstanding sustained fusion reactions.
Still, interest in nuclear power is surging as technology companies seek massive, stable power supplies. That has led to renewed focus on restarting shuttered reactors, expanding existing plants and investing in next-generation nuclear technologies.
Trump Media shares jumped nearly 33 percent in early trading following the announcement, despite the company having lost nearly 70 percent of its value this year. The stock rally drew heavy attention from retail investors on platforms such as Stocktwits.
“TAE will also clearly have major political support from President Trump in our view,” Wedbush analyst Dan Ives said.
TAE CEO Michl Binderbauer and other fusion executives met US Department of Energy officials earlier this month, shortly after the department established its first dedicated fusion office, a sign of growing institutional interest.
As part of the merger, Trump Media will provide up to $200m in cash at signing and an additional $100m upon the initial registration filing. TAE has raised more than $1.3bn in private funding to date and is aiming to commercialise next-generation neutral beam systems used in fusion and related technologies.
The companies say they plan to begin construction on what they describe as the world’s first utility-scale fusion power plant next year. Trump Media CEO Devin Nunes said during a brief investor call that the combined company would “quickly seek approvals” after closing, with site selection expected to begin by the end of 2026.
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