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Trump Social Media Company To Merge With Nuclear Fusion Firm In $6 Billion Deal

U.S. President Donald Trump

Trump Media and Technology Group, the parent company of Truth Social, announced a surprise merger with nuclear fusion company TAE Technologies. The all-stock deal is valued at more than $6 billion and would create one of the first publicly traded fusion energy companies.

Shares of Trump Media jumped 17 percent in premarket trading following the announcement.

After the merger closes, shareholders of Trump Media and TAE would each own about half of the combined company.

The move comes as Trump Media’s stock has fallen sharply this year and Truth Social continues to trail major social media rivals.

The company has recently sought to diversify into new areas including artificial intelligence, cryptocurrency, and asset management.

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