Trump Media surges 45% on $6B merger with Google-backed firm

Core Insights - Trump Media and Technology Group (TMTG) has entered into a definitive merger agreement with TAE Technologies, a fusion power company, valued at over $6 billion, expected to close in mid-2026 [3][5]. - TMTG holds 11,542 Bitcoin (BTC), valued at more than $1 billion, making it the 11th largest corporate holder of Bitcoin [1][2]. - Following the merger announcement, TMTG's stock surged by as much as 45%, reaching an intraday high of $15.20 before closing at $14.86 [5]. Company Overview - TMTG is the parent company of Truth Social, Truth+, and Truth.Fi, and is majorly owned by U.S. President Donald Trump [1]. - The company has partnered with Crypto.com to explore exchange-traded funds (ETFs) linked to cryptocurrencies and a proposed prediction market [2]. Financial Highlights - TAE Technologies has raised over $1.3 billion in private capital from notable investors including Google, Goldman Sachs, and Charles R. Schwab [4]. - The merger is anticipated to facilitate the construction of the first utility-scale fusion power plant by 2026, aimed at enhancing U.S. competitiveness in the global AI landscape [3][5]. Market Reaction - TMTG's stock was trading at $16.28 at the time of reporting, reflecting a significant increase following the merger announcement [6].