Trump Media & Technology Group announced a $6 billion all-stock merger with fusion power firm TAE Technologies on Thursday.
The decision marks a dramatic strategic shift for the Truth Social parent company, which has spent 2025 building one of the largest cryptocurrency treasuries among U.S. public companies.
DJT stock surged 34% following the announcement to trade at $14.11.
Shares had plunged 69% year-to-date before Thursday's rally.
What Happened
Trump Media will merge with privately held TAE Technologies in a transaction valued at more than $6 billion.
Shareholders of each company will own approximately 50% of the combined entity upon closing.
Devin Nunes and Dr. Michl Binderbauer will serve as co-CEOs of the merged company.
Trump Media agreed to provide TAE with $200 million in cash at signing and another $100 million upon filing merger documents.
The combined company plans to begin construction on a utility-scale fusion power plant in 2026.
Yorkville Securities is serving as lead financial and M&A advisor on the deal.
The same firm helped Trump Media raise $2.5 billion to buy Bitcoin in May 2025.
President Donald Trump owns more than 114 million shares of Trump Media through a revocable trust controlled by Donald Trump Jr.
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Why It Matters
The fusion merger comes as Trump Media holds approximately $1.5 billion in digital assets on its balance sheet.
The company bought around $2 billion worth of Bitcoin (BTC) and related securities in July 2025.
Trump Media is also working with Crypto.com and Yorkville Acquisition Corp on a planned $6.42 billion digital asset treasury firm centered on the CRO token.
The Yorkville-backed venture filed confidentially with the SEC in December and expects to close in Q1 2026.
The fusion deal raises questions about how Trump Media will balance its energy ambitions with its cryptocurrency strategy.
The company reported less than $2.7 million in revenue during the first nine months of 2025.
Its Truth Social platform has struggled to compete with established social media platforms despite President Trump's active presence.
The merger positions Trump Media to potentially capitalize on surging electricity demand from artificial intelligence data centers.
TAE Technologies has raised more than $1.3 billion from investors including Google, Chevron, and Goldman Sachs.
The company has built and operated five fusion reactors and holds over 1,600 patents.
Dan Ives of Wedbush Securities called the combination a major play on creating the first public nuclear fusion company in the U.S.
The transaction is expected to close in mid-2026 pending regulatory approval.
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