"TAE, backed by Alphabet's Google and Chevron, the oil giant, is aiming to develop and sell next-generation neutral beam systems for fusion and related applications in a more cost-effective manner. Nuclear fusion refers to a nascent technology that aims to generate electricity by harnessing the process that powers the sun. It offers the vision of abundant energy without pollution, radioactive waste or greenhouse gases."
"TMTG, meanwhile, has struggled to capitalize on its ownership of Trump's Truth Social platform, which the president regularly updates with musings, announcements and attacks. The firm reported sales of $927,900 for the three months to 30 September, down from just over $1.01m the previous year. Its losses also widened to $54.8m, from $19.2m in the same quarter of 2024."
Trump Media and Technology Group announced a merger exceeding $6bn with TAE Technologies that would combine a social media platform with fusion energy development. The combined company aims to start building a utility-scale fusion power plant next year to provide electricity for large AI datacenters, with the deal expected to close by mid-2026 and shareholders owning about 50% each. TAE, backed by Google and Chevron, focuses on next-generation neutral beam fusion systems. TMTG reported falling sales and widening losses, while its shares rose sharply on the merger news.
Read at www.theguardian.com
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