"Trump Media & Technology Group, owner of Donald Trump's social media platform, Truth Social, announced a merger on Wednesday with a company developing fusion energy technology. TAE Technologies, an energy company founded in 1998, will join with Trump Media via a $6bn merger that it promises will propel it to build the world's first utility-scale fusion power plant next year."
"Trump Media announces $6bn merger plan with fusion power company Trump Media has built uncancellable infrastructure to secure free expression online for Americans, according to its CEO, Devin Nunes. And now we're taking a big step forward toward a revolutionary technology that will cement America's global energy dominance for generations. Nunes, a former congressman, is set to serve as co-CEO of the new company with Michl Binderbauer, TAE's CEO."
"Shareholders of each firm will own about 50% of the combined company. The company will be overseen by a nine-member board of directors, which will include Trump. Trump Media has also agreed to give TAE $300m in cash to continue developing its fusion energy technology. The deal comes amid soaring demand for new energy sources that can feed artificial intelligence and the massive datacenters that power it."
Trump Media & Technology Group agreed to merge with TAE Technologies in a $6bn transaction aimed at accelerating fusion energy development. TAE, founded in 1998, and Trump Media plan to build a utility-scale fusion power plant as soon as next year. Devin Nunes will serve as co-CEO alongside TAE CEO Michl Binderbauer, and shareholders of each firm will own about 50% of the combined company. A nine-member board will include Donald Trump. Trump Media will provide $300m in cash to TAE. The deal targets growing energy demand from artificial intelligence and large datacenters, despite no commercially viable fusion reactor yet existing.
Read at www.theguardian.com
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