Trump Media & Technology Group (NASDAQ: DJT) has agreed to merge with fusion developer TAE Technologies in an all-stock transaction valued at more than $6.0 billion, positioning the combined company as one of the first publicly traded fusion plays while immediately re-rating DJT on deal optionality.
DJT shares jumped about 35% on the announcement, after losing more than 70% over the past 12 months, a reversal driven by a new narrative tied to the AI data-center power crunch rather than Truth Social’s advertising trajectory.
The companies say existing shareholders of Trump Media and TAE will each own roughly 50% of the combined entity on a fully diluted basis after closing, which is targeted for mid-2026, subject to shareholder and regulatory approvals.
Trump Media also agreed to provide up to $300.0 million in cash to TAE, structured as up to $200.0 million at signing plus an additional $100.0 million available upon initial filing.
TAE CEO Michl Binderbauer framed fusion commercialization as capital-speed constrained, calling it “a multi-billion dollar undertaking,” while stating TAE has raised about $1.3 billion over its 25-year history. 
Trump Media CEO Devin Nunes and Binderbauer are expected to serve as co-CEOs, with Michael Schwab (of Big Sky Partners) expected to chair a nine-member board that will include Nunes and Donald Trump Jr.
Reuters reported President Donald Trump holds 114.0 million DJT shares, roughly 40% of the company, and that his stake would be about 20% post-merger, implying meaningful dilution even before any future capital raises needed to build plants.
The companies’ stated near-term objective is to site and begin construction in 2026 on a first utility-scale fusion power plant with 50 MWe capacity, with additional plants contemplated at 350–500 MWe.
Financial Times reported TAE’s CEO projects the combined company could generate fusion electricity by 2031. Trump Media disclosed $3.1 billion of total financial assets as of Q3 2025, including cash, short-term investments, trading securities, and digital assets.
Reuters also reported DJT posted a $54.8 million loss in the September-ended quarter.
TAE announced a December 2025 commercialization partnership with the UK Atomic Energy Authority, structured around a joint venture and reciprocal investment commitments, including a £5.6 million equity investment reported in coverage of the tie-up.
Information for this briefing was found via CNN and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
