U.S. President Donald Trump is getting into the fusion power business through a $6 billion merger of his social media firm and Google-backed TAE Technologies, announced just days after industry leaders met with U.S. Energy Department representatives to urge federal funding. The all-stock deal announced on Thursday is an ambitious bet on the power boom spurred by artificial intelligence data-centers and adds to the Trump family’s growing roster of diverse ventures from cryptocurrency to real estate holdings and mobile services.
After his return to office this year, Trump’s close relatives have pursued ventures leveraging his political power and policy shifts. The Trump family has, for instance, amassed billions in crypto-related wealth as Trump throws his support behind digital financial assets. Greater support from the federal government could potentially boost the value of this investment, as well. The news put a charge into shares of the money-losing Trump Media on Thursday, sending them up 35%. The stock, popular with retail traders, had lost more than 70% of its value over the last 12 months following a big surge during the 2024 campaign.
“At face value, this is a Barbenheimer mashup. Trump Media gets a dramatic new growth story tied to the AI power crunch and data-center (hyperscaler) electricity demand, while TAE gets a fast lane to being publicly traded via an all stock merger valued above $6 billion,” said Michael Ashley Schulman, partner and chief investment officer at Running Point Capital Advisors.
