Trump Media and Technology Group on Thursday announced a merger agreement with TAE Technologies, a fusion power company, valued at more than $6 billion.
The all-stock deal, expected to close in mid-2026, will result in shareholders of each firm owning approximately half of the combined company.
The merger would create "one of the world's first publicly traded fusion companies," according to a press release.
There are currently no commercial plants producing electricity using fusion, a futuristic technology that carries the potential to generate abundant energy without the risks associated with nuclear power.
Trump Media stock rocketed more than 19% higher in premarket trading.
Trump Media ($DJT) Stock Price
The announcement shows Trump Media, which operates President Donald Trump's Truth Social platform, branching out even further following its expansion into the financial services sector early this year.
"Upon closing, Trump Media & Technology Group will be the holding company for Truth Social, Truth+, Truth.Fi, TAE, TAE Power Solutions and TAE Life Sciences, among others," the companies said.
Trump indirectly owns more than 114 million shares of Trump Media, which trades on the Nasdaq under the ticker DJT, the president's initials.
Before taking office in January, he transferred that majority stake to a revocable trust whose sole trustee is his eldest son, Donald Trump Jr.
After Trump Media merges with TAE, the combined company aims to build "the world's first utility-scale fusion power plant ... subject to required approvals."
"Fusion power plants are expected to provide economic, abundant, and dependable electricity that would help America win the A.I. revolution and maintain its global economic dominance," the companies said.
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