Why is Trump’s media company getting involved with nuclear power?
Trump Media, the parent company of Truth Social, and the nuclear fusion company TAE Technologies make merger plans. (Ross D. Franklin / Associated Press) President Trump’s media company is merging with a nuclear fusion energy firm in a $6-billion deal aimed at generating more power amid growing demand from power-hungry artificial intelligence data centers. The merger between Trump Media & Technology and TAE Technologies could lead to one of the world’s first publicly traded fusion energy companies, the two companies said Thursday. Read more: Data centers for AI could nearly triple San José’s energy use. Who foots the bill? What is TAE Technologies? TAE Technologies is a private company based in Foothill Ranch. It has been raising funds for commercial-scale nuclear fusion, a method of energy production that supporters say could revolutionize access to electricity. Founded in 1998, the company has built and operated five fusion reactors and raised more than $1.3 billion. Fusion uses the same process that powers the sun to produce potentially limitless energy. Experts say it hasn’t been achieved on a large scale because the process is volatile and expensive. TAE is trying to develop the technology needed to reduce the size, cost and complexity of fusion reactors. “Our talented team, through its commitment and dedication to science, is poised to solve the immense global challenge of energy scarcity,” TAE Chief Executive Michl Binderbauer said in a statement. “Recent breakthroughs have prepared us to… commercialize our fusion technology.” Read more: Trump signs executive order that could reclassify marijuana as a less dangerous drug Why are the companies merging? The parent company of Trump’s social media site, Truth Social, Trump Media & Technology, previously had little to do with energy production. The company agreed to merge with Alphabet-backed TAE Technologies, with the aim of paving the way for easier access to abundant electricity. The merger aims to help both companies diversify and raise more money. It is an attempt to combine Trump Media’s “significant access to capital” with TAE’s “leading fusion technology,” the companies said in a release. They plan to begin construction in 2026 on the first-ever utility-scale fusion power plant. “Fusion power plants are expected to provide economic, abundant and dependable electricity that would help America win the AI revolution,” the release said. The boom in popularity of AI chatbots such as ChatGPT has created a seemingly insatiable new demand for power. The Georgia Institute of Technology says modern AI data centers use as much electricity as a small city. As AI models grow, they demand even more power.