Trump Media merging with nuclear fusion startup in $6B deal

Trump Media, the parent company of Truth Social, on Thursday announced a merger with Tri Alpha Energy (TAE) Technologies, a nuclear fusion startup, in a deal valued at $6 billion. Together, the two companies are planning to create the “world’s first utility-scale fusion power plant.” The unprecedented project is intended to create electricity through fusion at 50 million watts with construction for the site slated to begin next year, according to a press release announcing the merger. In future years, the combined companies say they are planning to construct additional fusion power plants with an expected output of 350 to 500 million watts. The companies said its goal is to help “America win the A.I. revolution and maintain its global economic dominance.” Under the deal, Trump Media would provide up to $200 million cash to TAE Technologies at signing and an additional $100 million after the company files a form to report their company stock trades to the public. Prior to the planned merger, Trump Media saw vast declines in stock value losing more than 75 percent since the start of the year. However, upon announcing the deal, it is up 33 percent. The media company has pivoted before, but this move represents a massive shift. Former Rep. Devin Nunes (R-Calif.), now CEO of Trump Media, said in a Thursday conference call with investors the merger with TAE Technologies represents a continuation of Trump Media’s “America first” principles, CBS News reported. “Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s—an innovation that will lower energy prices, boost supply, ensure America’s A.I.-supremacy, revive our manufacturing base and bolster national defense,” Nunes said in a statement. “TMTG brings the capital and public market access to quickly move TAE’s proven technology to commercial viability,” he added. While the Trump administration has shied away from green energy initiatives, the president said an “energy revolution” would remain the focus of his second stint in office with a heavy intent to resurface the use of oil, gas and coal as a means of power nationwide. There are currently no commercial plants producing electricity using fusion. “At TAE, recent breakthroughs have prepared us to accelerate capital deployment to commercialize our fusion technology. We’re excited to identify our first site and begin deploying this revolutionary technology that we expect to fundamentally transform America’s energy supply,” TAE Technologies’ CEO Michl Binderbauer said in a statement.