Trump Media and TAE Technologies to merge in $6 billion all-stock deal
By Axel Miller | 18 Dec 2025
Trump Media & Technology Group (TMTG) and fusion energy pioneer TAE Technologies have agreed to combine in an all-stock transaction valued at more than $6 billion.The deal represents a landmark tie-up between a social media-focused company and a deep-tech firm specializing in clean energy and advanced life sciences.
Under the proposed deal, shareholders of both companies will each hold roughly 50 per cent of the combined entity once the transaction closes, which is expected in mid-2026. TMTG will serve as the holding company for a diversified portfolio including Truth Social, Truth+, Truth.Fi, TAE Power Solutions, and TAE Life Sciences.
Dual leadership structure
The merged group will be led by a dual chief executive structure. Devin Nunes, CEO of TMTG, will take on the role of co-CEO alongside TAE Technologies’ CEO, Dr. Michl Binderbauer. Michael B. Schwab, founder of Big Sky Partners, is expected to be named Chairman of the planned nine-member board. The leadership model reflects the distinct nature of the businesses, bridging media and nuclear fusion research.
Market reaction
Investor reaction was swift, with TMTG (DJT) shares jumping 27 per cent in premarket trading on Thursday to reach $13.30. The rally underscores strong retail interest and optimism around the strategic combination, which grants TMTG exposure to cutting-edge technologies while providing TAE with immediate access to public capital markets. As part of the agreement, TMTG will provide $200 million in cash to TAE at signing.
Strategic divergence and fusion goals
TAE Technologies is known for its proprietary “Field-Reversed Configuration” (FRC) approach to fusion power. The combined company plans to site and begin construction on the world’s first utility-scale fusion power plant (50 MWe) as early as 2026, subject to required approvals.
“TMTG brings the capital and public market access to quickly move TAE’s proven technology to commercial viability,” said Devin Nunes. The merger positions the company at the intersection of media and the “energy transition,” a mix that offers a high-risk, high-reward profile for long-term investors.
Summary
Trump Media & Technology Group and TAE Technologies have announced a $6 billion all-stock merger to create a diversified giant spanning social media, fintech (Truth.Fi), and fusion energy. Expected to close in mid-2026, the deal will be led by co-CEOs Devin Nunes and Michl Binderbauer. The announcement triggered a 27% surge in DJT stock, as the company prepares to break ground on a utility-scale fusion plant in 2026.
Frequently asked questions (FAQs)
Q1: What is the structure of the deal?
It is an all-stock merger where shareholders of TMTG and TAE will each own roughly 50% of the new entity. TMTG is also injecting up to $300 million in cash into the project over the coming months.
Q2: When will the merger close?
The companies target mid-2026, pending shareholder and regulatory approvals.
Q3: What businesses are included?
The portfolio includes Truth Social, the streaming platform Truth+, the crypto-focused Truth.Fi, and TAE’s fusion, power management, and life sciences divisions.
Q4: Who is leading the company?
Devin Nunes and Dr. Michl Binderbauer will serve as co-CEOs, with Michael B. Schwab as Chairman.
Q5: Is fusion power ready now?
No. While TAE has built five reactors, commercial fusion remains a long-term play. The first utility-scale plant is slated to begin construction in 2026.
