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Under the terms of the agreement, announced on Thursday (December 18), shareholders of Trump Media and TAE will each own roughly 50 percent of the combined entity on a fully diluted basis once the transaction closes.
Trump Media will serve as the holding company for a portfolio that will include Truth Social, Truth+, TAE Technologies, TAE Power Solutions and TAE Life Sciences. The deal is expected to close in mid-2026.
The merger pairs Trump Media, best known for the Truth Social platform associated with US President Donald Trump, with a privately held fusion company that has spent more than two decades developing alternative nuclear technologies.
TAE Technologies says it has raised more than US$1.3 billion in private capital from investors including Google, Goldman Sachs (NYSE:GS), Chevron Technology Ventures and Sumitomo Corporation of Americas.
Management of the combined company will be shared. Devin Nunes, chair and chief executive of Trump Media, and TAE Chief Executive Michl Binderbauer are set to serve as co-CEOs following completion of the deal. Michael Schwab, founder and managing director of Big Sky Partners, is expected to become chair of a nine member board.
Trump Media said the transaction will leverage its access to public capital to accelerate fusion power commercialization.
“Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations,” Nunes said in a company press release. He further described fusion as “the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s.”
TAE, which has built and operated five fusion reactors during its research phase, said recent technical advances have reduced the size, cost and complexity of its systems, bringing them closer to commercial deployment.
As part of the transaction, Trump Media has agreed to provide up to US$200 million in cash to TAE at signing, with an additional US$100 million available upon the initial filing of the merger’s registration statement.
Pending approvals, the companies said the combined group plans to identify a site and begin construction of a utility-scale fusion power plant, targeted at roughly 50 megawatts of electrical output, in 2026.
Shares of Trump Media surged more than 30 percent in pre-market trading following the announcement.
