TAE is a private company and the merger with Trump Media would create one of the first publicly traded nuclear fusion companies.
Trump Media & Technology will merge with a fusion power company in an all-stock deal that the companies said Thursday is valued at more than $6 billion.
Devin Nunes, the Republican congressman who resigned in 2021 to become the CEO of Trump Media, will be co-CEO of the new company with TAE Technologies CEO Michl Binderbauer.
TAE focuses on nuclear fusion, a technology that combines two light atomic nuclei to form a single heavier one. It releases enormous amount of energy, a process that occurs on the sun and other stars, according to the United Nation’s International Atomic Energy Agency.
Nah, the point is to get a sweetheart deal when they inevitably file for bankruptcy because they are a budding energy company taking big risks on new tech, not a media company hemorrhaging money at an unsustainable rate, silly goose!
There we go. That’s the angle I was looking for. I was curious what the grift was, but now this opens them up to getting energy subsidies and protections.
It’s part of the AI hype train too. Energy is hot in the stock market, with the idea being scale up for all these chip fabs and data centers we’ll need for infinite AI.
If that sounds familiar, it’s because there was a similar energy craze over cryptomining. Though not at this scale.