Trump Media pursuing merger with TAE Technologies…to select fusion power plant site next year
Summary
- Trump Media & Technology Group announced it is pursuing a merger with TAE Technologies in an all-stock exchange valued at $6 billion.
- It said that after the merger it plans to select a site for the world's first large-scale fusion power plant next year and begin construction.
- It said fusion power plants will have a positive impact on future power supply and the United States' AI and economic dominance.
Trump Media & Technology Group is seeking a merger with U.S. nuclear fusion technology startup TAE Technologies.
On the 18th (local time), according to Fox Business, Trump Media announced that it had signed a merger agreement with TAE Technologies. Trump Media is the operator of U.S. President Donald Trump's social media platform Truth Social. The merger will be carried out as an all-stock exchange valued at $6 billion.
Trump Media plans, after merging with TAE Technologies, to select the site for the world's first large-scale fusion power plant next year and then begin construction. Trump Media said, "Fusion power plants provide abundant electricity economically and reliably," and "will help the United States win the artificial intelligence (AI) revolution and maintain dominance over the global economy."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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