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Wall Street JournalTrump Media Fusion Deal: Donald Trump Joins Google, Chevron, Goldman Sachs In High‑Stakes Nuclear Energy Play
Shares of Trump Media & Technology Group (NASDAQ:DJT) are soaring Thursday morning after the company announced a $6 billion merger with nuclear fusion company TAE Technologies.
The price tag includes $200 million in cash for TAE at signing, plus $100 million upon filing of a Form S-4.
Here's a look at the background of TAE Technologies, what the company hopes to accomplish and how the deal unites key investors, including President Donald Trump, Chevron (NYSE:CVX), Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL) and Goldman Sachs (NYSE:GS)
What Is TAE Technologies?
TAE Technologies, founded in 1998, aims to deliver commercial, utility-scale fusion energy through power plants that will provide electricity.
With the merger set to close in mid-2026, the company could become one of the first publicly traded nuclear fusion power providers, adding to the list of nuclear stocks available to investors.
TAE Technologies also owns TAE Power Solutions, a developer of energy storage and power delivery systems for AI data centers and electric vehicles, and TAE Life Sciences, which develops radiotherapy for cancer patients.
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TAE Technologies Investors
The Trump Media merger will result in existing TAE Technologies shareholders owning approximately 50% of the combined company.
TAE Technologies has raised over $1.3 billion in private investments ahead of the merger.
Current investors in the company include Google, Chevron Technology Ventures, Goldman Sachs, Sumitomo Corporation of America, NEA and others.
The company raised $150 million in a funding round in June of this year. Existing investors Chevron Technology Ventures, Google, and NEA participated in the round along with several returning investors and new, unnamed investors.
What's Next For TAE Technologies?
In addition to being an investor in the company, Google has a working partnership with TAE Technologies dating back to 2014. The companies are working together to accelerate fusion science.
"We're delighted to continue our relationship with Google, who have not only provided funding to TAE but collaborated closely in research and development over many years. With this latest fundraise, we look forward to accelerating our efforts to deliver commercial fusion power," TAE Technologies CEO Michl Binderbauer said after the June funding round.
TAE Technologies is developing nuclear fusion reactors amid growing energy demand from AI and data centers.
The company has made five generations of prototypes with plans for a sixth.
Plans call for the construction of the first utility-scale fusion power plant in 2026.
TAE Technologies’ roadmap includes a prototype power plant named Da Vinci, which is expected to be operational in the early 2030s and deliver commercial fusion power.
"Fusion power to blaze path toward America's AI dominance and energy security," the companies said in their merger announcement.
Trump moved 114,750,000 shares of DJT that he owned to a trust in December 2024.
This move made his son, Donald Trump Jr., the trustee of the trust with sole voting power. Trump has indirect ownership of DJT shares rather than direct ownership.
Trump, a proponent of nuclear energy, has signed executive orders to bolster the sector throughout 2025.
Trump Jr. will serve on the board of directors of the combined company as one of nine board members.
Future comments and orders on nuclear energy signed by Trump could be subject to scrutiny, considering TAE would become one of his family's top investments and directly benefit from pro-nuclear legislation.
The merger would result in Trump Media owning TAE, TAE Power Solutions, TAE Life Sciences, Truth Social, Truth+, and Truth.Fi and other assets.
DJT Stock Soars
Trump Media & Technology shares are up 30% to $13.62 on Thursday versus a 52-week trading range of $10.18 to $43.46. Trump Media & Technology shares are down 60% year-to-date in 2025.
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