"According to a report by The New York Times, the deal entails an all-stock deal valued at more than $6 billion between TMTG and TAE, which was founded in 1998. This new partnership would be its first foray into nuclear fusion, a still unproven experimental energy technology, and would be one of the first publicly traded nuclear fusion companies in the world, according to a press release about the merger."
"The merger announcement sent TMTG shares soaring 35 percent in early trading Thursday, cooling off slightly from a peak price of $14.34 in the late morning. Screenshot via Google. A major factor in the interest in nuclear fusion is its potential as a clean-energy source for the ravenous power needs of AI data centers, the Times report noted, but the involvement of the president's own company into a highly competitive sphere is once again raising concerns about conflicts of interest and other ethical issues."
Trump Media & Technology Group is merging with TAE Technologies in an all-stock transaction valued at more than $6 billion. TAE, founded in 1998, is a nuclear fusion power company pursuing experimental fusion technology. TMTG expanded beyond social media into cryptocurrency and a streaming deal with Newsmax but has lost hundreds of millions of dollars and struggled to attract major influencers. Trump remains TMTG's largest shareholder; his stake fell from over $4 billion to about $1 billion and is held in a trust managed by Donald Trump Jr. Devin Nunes is TMTG CEO; board members include Kash Patel and Linda McMahon. Interest in fusion ties to clean-energy potential for AI data centers, and the deal raises concerns about conflicts of interest and ethics.
Read at www.mediaite.com
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