In a major move blending media, capital markets, and next-generation energy innovation, Trump Media & Technology Group (TMTG) announced today it will merge with TAE Technologies, a California-based company developing fusion power solutions. The all-stock deal is valued at more than $6 billion, with both companies’ shareholders each holding approximately 50% of the combined entity upon closing.
The transaction, which still requires regulatory and shareholder approval, is expected to finalize by mid-2026. If completed, the combined company will launch one of the world’s first publicly traded fusion power ventures and plans to begin construction of a 50 MWe utility-scale fusion power plant in 2026.
According to the joint announcement, “the transaction will combine the strength of TMTG’s strong balance sheet with TAE’s leading technologies.” TMTG, which went public in March 2024, reported $3.1 billion in total financial assets as of Q3 2025, including cash, investments, and digital assets. Under the agreement, TMTG has committed up to $300 million in capital to support TAE, including $200 million upon signing and another $100 million available at the Form S-4 filing stage.
Founded in 1998, TAE has spent over two decades developing a unique fusion technology, conducting more than 170,000 experiments. It has raised over $1.3 billion from notable investors such as Google, Goldman Sachs, Chevron Technology Ventures, and Charles Schwab. The company has constructed and safely operated five fusion reactors and holds more than 1,600 patents. TAE says its reactors avoid common drawbacks associated with traditional nuclear energy, including risks of meltdown and long-term radioactive waste.
Leadership of the new company will be shared by Devin Nunes, current TMTG Chairman and CEO, and Dr. Michl Binderbauer, CEO of TAE. Nunes will continue to lead all Trump Media brand operations, while Binderbauer will manage TAE Technologies. Michael B. Schwab, Founder and Managing Director of Big Sky Partners, is expected to serve as Chairman of a planned nine-member board of directors, which will include Nunes, Donald J. Trump Jr., Binderbauer, Schwab, and five additional independent directors to be named later.
The company expects the fusion plant to serve as a “path toward America’s A.I. dominance and energy security,” and aims to develop future plants with higher capacity—between 350 and 500 MWe—over time. The technology is projected to deliver “economic, abundant, and dependable electricity,” and the new entity sees fusion energy as a strategic asset in the broader global competition over artificial intelligence infrastructure and energy independence.
The press release emphasized that the combined company’s resources will “quickly move TAE’s proven technology to commercial viability.” It added that TAE’s fusion approach is designed to offer “reliable, affordable, carbon-free electricity and industrial heat without the risks of nuclear meltdown, radioactive waste, or proliferation.”
In a promotional video accompanying the merger announcement, the companies stated, “American innovation defines the future. It’s what secures our prosperity, national security and way of life.” The video highlighted TAE Technologies as “an American company doing what Americans do best—thinking big and shaping a bold future.” It continued: “Imagine limitless American energy without foreign dependence or price shocks. This is the kind of moonshot that could rebuild our industry, lower energy costs for all Americans, and ensure the US dominates global technology.”
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