Editor’s note: The story has been updated to mention the long-term debt figure
Trump Media & Technology Group Corp. (NASDAQ:DJT) stock rose on Thursday after the company announced a major merger tied to its fusion energy ambitions.
The company said it will combine with TAE Technologies, Inc. in an all-stock transaction valued at above $6 billion.
As of September 30, 2025, Trump Media had cash and equivalents worth $166.072 million. According to data from Benzinga Pro, Trump Media’s long-term debt stands at $946.08 million.
The agreement will merge Trump Media’s capital access with TAE’s fusion technology platform.
Shareholders from both firms will each hold roughly half of the combined company.
The boards of both companies approved the transaction earlier this week. The companies expect to close the deal in mid-2026, pending approval from regulators and shareholders.
Fusion Ambitions
The combined company plans to begin construction on a utility-scale fusion plant next year. Management targets an initial capacity suitable for grid-level electricity production.
Executives said future plants could deliver significantly higher output once the first site becomes operational. They believe fusion power can provide a stable source of electricity for artificial intelligence infrastructure.
Capital Commitment
Trump Media agreed to provide substantial cash funding to accelerate commercialization efforts. The company will release additional capital after its regulatory filings are completed.
Management said the funding supports rapid site selection and early-stage construction. Executives framed the investment as strategic rather than speculative.
Technology Background
TAE has spent decades refining reactor designs that reduce size and operational complexity. The company has operated multiple experimental reactors with an improved safety profile.
TAE has attracted backing from major technology and industrial investors over many years. Its leadership believes recent breakthroughs shorten the path to commercial deployment.
Devin Nunes and Michl Binderbauer plan to serve as co-chief executives after closing. Nunes will continue overseeing Trump Media’s digital platforms.
Binderbauer will manage fusion operations and scientific development initiatives. The companies plan a nine-member board with independent directors.
Strategic Rationale
Nunes said the deal supports national energy security and industrial competitiveness. Binderbauer said the merger enables faster deployment of clean, dispatchable power.
Management linked the development of fusion energy to rising electricity demand from data centers. They also cited long-term benefits for manufacturing and defense infrastructure.
DJT Price Action: Trump Media & Tech Gr shares were up 21.78% at $12.75 during premarket trading on Thursday, according to Benzinga Pro data.
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