Trump Media unveils £4.5bn tie-up with nuclear fusion power firm

Trump Media & Technology will merge with privately-owned TAE Technologies

The company that owns US President Donald Trump’s Truth Social media firm is to merge with Google-backed TAE technologies (Alamy/PA) (Alamy/PA)

The company that owns US President Donald Trump’s Truth Social media firm is making a surprise bet on nuclear fusion after announcing a 6.0 billion US dollar (£4.5 billion) merger with Google-backed TAE technologies.

US-listed Trump Media & Technology will merge with privately-owned TAE Technologies in a move that will create one of the first publicly traded nuclear fusion firms.

Trump Media & Technology said it plans to build “the world’s first, utility-scale, fusion power plant” next year as it looks to use the new technology to help power giant datacentres behind the advance of artificial intelligence.

TAE focuses on nuclear fusion – a technology that combines two light atomic nuclei to form a single heavier one, releasing large-scale amounts of energy.

The firm is backed by Alphabet’s Google and oil giant Chevron.

TAE and Trump Media shareholders will each own about 50% of the merged company.

After the deal is completed, Trump Media & Technology Group will be the holding company for Truth Social and TAE, as well as its subsidiaries TAE Power Solutions and TAE Life Sciences.

The tie-up will value each TAE share at 53.89 US dollar (£40.14) per share, according to the firms.

Former Republican congressman Devin Nunes, who resigned in 2021 to become the chief executive of Trump Media, will be the co-chief executive of the new company, alongside TAE Technologies boss Michl Binderbauer.

Mr Nunes said: “We’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations.”