"SAN FRANCISCO -- The parent company of President Donald Trump's Truth Social media platform is merging with a fusion power company, an unusual pairing of the Trump name with a futuristic clean energy venture that aims to power the next wave of artificial intelligence. Trump Media & Technology announced its merger with TAE Technologies in an all-stock deal that the companies said Thursday is valued at more than $6 billion."
"The combined company says it plans to find a site and begin construction next year on the "world's first utility-scale fusion power plant," with aims to provide the electricity needed for artificial intelligence. Nuclear fusion is seen as a promising solution to climate change caused by burning fossil fuels, but one that is a long way off compared to today's clean technologies like wind and solar."
Trump Media & Technology is merging with TAE Technologies in an all-stock deal valued at more than $6 billion. TAE Technologies is based in Southern California and is backed by Alphabet. The combined company plans to find a site and begin construction next year on what it calls the "world's first utility-scale fusion power plant" to provide electricity for artificial intelligence. Nuclear fusion is presented as a promising long-term climate solution but remains far from deployment compared with wind and solar and will require massive investment and regulatory progress. Devin Nunes will be co-CEO alongside TAE CEO Michl Binderbauer, and the merger would create one of the first publicly traded fusion companies.
Read at ABC7 San Francisco
Unable to calculate read time
Collection
[
|
...
]