Shares in the president's media company jumped premarket after it agreed to a tie-up with TAE Technologies in an all-stock deal.
Trump Media's stock is soaring as the Truth Social operator looks to get in on a hot AI power trend.
Shares of Trump Media (NASDAQ: DJT) jumped sharply in premarket trading on Thursday after the company unveiled a high-profile merger that dramatically expanded its strategic scope.
Trump Media and Technology Group announced a merger agreement with fusion power company TAE Technologies valued at more than $6 billion. The all-stock deal, expected to close in mid-2026, will result in shareholders of each firm owning approximately half of the combined company.
President Trump's media company Trump Media & Technology Group agreed to merge with fusion power company TAE Technologies in an all-stock deal worth more than $6 billion.
Trump Media & Technology and TAE Technologies have agreed to combine in an all-stock transaction valued at more than $6 billion, the companies said on Thursday.
Trump Media settles legal dispute with firm's co-founders
Since its 2024 merger, Trump Media has reported low quarterly revenues with no growth. Operating expenses, meanwhile, have been larger and have increased.
Trump Media (NASDAQ: DJT) the company behind Truth Social, Truth+, and the Truth.Fi fintech brand has inched closer to launching its own Bitcoin exchange-traded fund (ETF) after submitting an amended registration to the U.S. Securities and Exchange Commission (SEC) on August 11.
New America Acquisition I Corp, a blank-check firm backed by Eric Trump and Donald Trump Jr., on Monday filed for an initial public offering of up to $300 million in the United States.
Trump Media's core business remains weak, with Q2 revenues under $1 million and heavy operating losses even when excluding legal expenses. The company pivoted in Q2, raising $2.4 billion to invest in Bitcoin and related assets, but that hasn't changed its business fundamentals. Valuation is extremely high, trading at about 1,375 times sales, making the stock very expensive compared to peers like Rumble and Meta.
Shares of Trump Media & Technology Group rallied to a six-week high Tuesday — with bitcoin approaching another record high and investors increasingly treating the social-media company as a cryptocurrency play.