Nick Iluzada
Trump Media and Technology Group, the firm behind President Trump’s social media platform, announced yesterday that it had struck a $6 billion deal to merge with a California-based nuclear fusion company, TAE Technologies, to build reactors that support AI’s hefty energy needs. Funny, we dreamed about this last week when we were running a high fever. Shares of Trump Media spiked 42% yesterday on news of the all-stock deal.
The AI boom turbocharged interest in nuclear fusion, which, unlike nuclear fission, has the potential to provide near-limitless energy without also producing radioactive waste. Alphabet, Chevron, and Goldman Sachs are among TAE’s backers. But, um…nuclear fusion isn’t considered commercially doable yet. It was achieved for the first time in lab conditions in 2022, and no company has been able to scale it yet. TAE CEO Dr. Michl Binderbauer told CNBC that TAE will be able to do so with Trump Media’s capital (plus public fundraising). Trump Media—of which President Trump is the largest stakeholder—isn’t profitable, but it has $3+ billion in assets (largely bitcoin) as of November to tap for TAE’s funding.—ML |
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