"Trump media, the company behind the president's personal social media platform Truth Social, is inexplicably merging with a Google-backed fusion energy company called TAE Technologies. The deal is worth $6 billion, according to reporting by Financial Times. Why is an entity known for publishing frenzied hot takes by the president at 3AM combining with a fusion energy company? Who the heck really knows, but a statement says the two organizations will join together to build the "world's first utility-scale fusion power plant.""
"The merger statement does mention that Trump Media would provide TAE with "access to significant capital." The company lost $55 million last quarter, as there's only so much money in a social media platform primarily used by just one person. However, the president himself is likely the world's most renowned raiser of funds when it comes to personal pet projects. He knows how to get a roomful of billionaires to open up their wallets, provide copious compliments and even hand-deliver gold statues."
An all-stock merger pairs Trump Media, owner of Truth Social, with Google-backed fusion developer TAE Technologies in a reported $6 billion transaction. The stated aim is to build the "world's first utility-scale fusion power plant," despite no commercial fusion plants currently operating. TAE brings decades of fusion work and backing from investors like Google and Chevron. Trump Media claims to provide access to significant capital and a $300 million bonus, although the company's recent $55 million quarterly loss and the bonus source are unclear. Shares in Trump Media rose sharply after the announcement, and the deal leverages fundraising and stock dynamics.
Read at Engadget
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