U.S. Financial Markets

Trump Media & Technology Group announced an all‑stock merger with nuclear fusion developer TAE valued at more than $6 billion, creating a combined company that current TAE and Trump Media shareholders will each own about 50% of (Trump owns roughly 41% of Trump Media); Devin Nunes and TAE CEO Michl Binderbauer are slated to serve as co‑CEOs. The holding company will include Truth Social and TAE’s power and life‑sciences units, plans to pick a site and begin construction next year on what it calls the world’s first utility‑scale fusion plant to help power AI, and TAE — backed by investors including Google — would become one of the first publicly traded fusion firms; Trump Media shares, down about 70% this year, rose roughly 20% in premarket trading after the announcement.