President Donald Trump’s social media company, which recently expanded into streaming and cryptocurrency, is now looking to become a fusion power company.

Trump Media & Technology Group and TAE Technologies, a fusion power company, said on Thursday they had agreed to an all stock merger valued at more than $6 billion.

The deal would be a total transformation for Trump Media, the parent company of Truth Social, a social media platform that has struggled to gain market share beyond serving as the main online megaphone for President Trump. Trump Media’s stock has been flagging — falling about 69 per cent this year before the merger announcement.

The announcement provided a jolt to Trump Media’s shares, which rose about 25 per cent in premarket trading. President Trump is the company’s largest shareholder, owning a large stake worth more than $1 billion.

Trump did not immediately comment on the deal on Truth Social.

The merger would create one of the world’s first publicly traded nuclear fusion companies, according to a news release.

Some tech companies are looking at fusion, a still-experimental technology, as a clean energy source that could help feed the electricity thirst of AI data centres.

The merged companies plan to create the first “utility-scale fusion power plant” in 2026, and aim to build additional plants in the future, according to the release.

“Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s,” Devin Nunes, the chief executive of Trump Media & Technology Group, said in the announcement.

New York Times News Service