Trump Media & Technology Group (TMTG), which operates the social media platform Truth Social, is set to merge with TAE Technologies, a company specializing in nuclear fusion technology, in an all-stock transaction valued at more than $6 billion. Devin Nunes, who resigned from Congress in 2021 to become the CEO of TMTG, will serve as co-CEO of the new entity alongside Michl Binderbauer, the CEO of TAE Technologies.

The merger will result in a company where shareholders of both Trump Media and TAE will hold approximately 50% ownership. The transaction values TAE common stock at $53.89 per share. TAE Technologies has received backing from major corporations, including Alphabet (Google) and Chevron, and is focused on developing next-generation neutral beam systems for fusion applications. Nuclear fusion, which combines light atomic nuclei to produce energy, is seen as a potential cleaner energy source with minimal environmental impact, akin to the processes that power the sun, as noted by the United Nations' International Atomic Energy Agency.

Despite the ambitious plans, TMTG has faced significant financial challenges, reporting a 70% decline in share value this year, although shares rose by 20% prior to the merger announcement. The merger is positioned as a response to the increasing energy demands driven by advancements in artificial intelligence (AI). TMTG aims to construct what it describes as the world’s first utility-scale fusion power plant, with construction expected to begin in 2026.

Nunes emphasized that the merger represents a significant step towards enhancing America’s energy capabilities and maintaining its competitive edge in AI technology. He suggested that the integration of social media and fusion power could lead to lower energy prices and a revitalization of the manufacturing sector. The merger has drawn attention amid the tech industry's growing energy needs, particularly for data centers that support AI technologies, and reflects a renewed interest in nuclear power, including the potential for expanding existing facilities and developing new, smaller reactors. Analysts indicate that this merger may position TMTG as a notable player in the energy sector, with potential political backing influencing its future trajectory.