On December 18 (local time), Trump Media & Technology Group, the parent company of former U.S. President Donald Trump's social media platform Truth Social, entered the nuclear fusion business by signing a merger agreement worth $6 billion (approximately 8.859 trillion won) with a nuclear fusion energy company.
On this day, Trump Media and TAE Technologies, a nuclear fusion technology development company, announced that they had agreed to a merger through an all-stock transaction. Trump Media and TAE Technologies will share ownership of the merged company almost equally.
TAE Technologies is one of the world's oldest private nuclear fusion companies.
In a press release, Trump Media stated that this merger would create one of the world's first publicly listed companies in the field of nuclear fusion power generation.
The merged entity plans to begin construction of the world's first commercial nuclear fusion power plant starting next year, followed by additional plants. On the same day, Michl Binderbauer, CEO of TAE Technologies, said during a conference call that power generation is expected to begin in 2031.
This move appears to target the recent surge in electricity demand driven by the artificial intelligence (AI) boom. In May, President Trump signed an executive order aimed at strengthening the competitiveness of the nuclear power industry, including measures to accelerate the construction of nuclear power plants.
Following the news of the merger, Trump Media's stock price closed up 41.93% on the New York Stock Exchange.
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