"The company will merge with TAE Technologies-a privately held fusion energy firm that's backed by Alphabet, Chevron Technology Ventures, and others-in a deal that's worth more than $6 billion. It's an all-stock deal, which is expected to close sometime next year, and is a huge and eyebrow-raising move for Trump Media, which is best known as the owner of President Trump's social media platform, Truth Social."
"As of midday, the stock was up more than 40% to roughly $14.67 a share. The stock is still down roughly 56% year to date. Shares had peaked for the year in January, early into President Trump's second term. Following the announcement, DJT shares jumped nearly 30% during premarket trading. The stock was up almost 35% in early trading on Thursday as of this writing. However, shares are down nearly 70% year to date, and are down roughly 92% from their peak in March 2022."
Trump Media and Technology Group announced a merger with privately held fusion firm TAE Technologies in an all‑stock transaction valued at more than $6 billion. The deal is expected to close next year and will give shareholders of both companies approximately equal ownership on a fully diluted basis. The combined company plans to site and begin construction in 2026 on a 50 MWe utility‑scale fusion power plant, with additional plants targeted at 350–500 MWe. The stated aim is to build massive fusion plants to supply energy for the accelerating AI sector. DJT shares rose sharply on the news but remain well below prior highs.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]