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Trump Media's $6B Fusion Bet with TAE Technologies

Wall Street Journal US Business •
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Trump Media & Technology Group is making a $6 billion move into power generation through an unusual partnership with TAE Technologies, a fusion energy company. The parent of Truth Social announced in December it would merge with the private firm, marking the first time fusion investing would reach public markets.

TAE Technologies, based in Foothill Ranch, California, has spent decades pursuing nuclear fusion—the process of creating a star on Earth. The company's latest research reactor, nicknamed "Norm," is a 40-foot-long nickel-chromium alloy tube. Chief Executive Michl Binderbauer admitted his wife once questioned whether he was "chasing ghosts" in the pursuit of fusion energy.

The deal comes as TAE faced a funding crunch last year, making Trump Media's investment particularly timely. The partnership represents a high-stakes bet on a technology that has yet to produce a single watt of electricity. For Trump Media, it's a dramatic pivot from social media into the energy sector, potentially reshaping how investors view both fusion technology and the company's future.