Trump Media & Technology to merge with fusion energy company TAE in $6 billion deal

Trump Media & Technology is merging with fusion energy company TAE Technologies in a deal worth more than $6 billion. 

TAE, which is privately owned, is developing technology aimed at producing energy by fusing atomic nuclei. Trump Media & Technology owns President Donald Trump’s Truth Social platform.

Former California lawmaker Devin Nunes, now chief executive of Trump Media, will serve as co-CEO of the new company with TAE Technologies CEO Michl Binderbauer, according to a statement from the two companies Thursday.

“Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s — an innovation that will lower energy prices, boost supply, ensure America’s A.I.-supremacy, revive our manufacturing base and bolster national defense,” Nunes said in a statement. Trump Media “brings the capital and public market access to quickly move TAE’s proven technology to commercial viability.”

—This is a developing story and will be updated.