In mid-December, Trump Media and Technology Group completed an all-stock merger with TAE Technologies valued at $6 billion, creating one of the first publicly traded fusion power companies. CEO Devin Nunes has announced plans to build what would be the world’s largest commercial fusion electric plant in the United States. The project will require a minimum site of 20 acres to house multiple fusion reactors, plus proximity to a metropolitan area for workforce talent and grid distribution. Applicant states must demonstrate local and state government support, secure financing and the ability to maintain a robust security presence. Construction is slated to begin later this year, with site selection expected within weeks of the application deadline.

Nunes emphasized that only applications from states governed by the Republican Party will be considered, positioning the initiative as an “America-First” energy renaissance. He argues that large-scale fusion capacity will lower energy costs for consumers and bolster U.S. leadership in next-generation technologies, including artificial intelligence. TAE Technologies has to date raised more than $1.3 billion from backers such as Chevron, Google and Goldman Sachs, while Trump Media holds nearly $3 billion in Bitcoin on its balance sheet. The fusion plant would directly compete with state-backed energy programs in China and Europe, aiming to deliver safe, clean and abundant power over the long term.

Concurrent with the fusion announcement, Trump Media unveiled five new thematic ETFs under the Truth Social brand, each designed to appeal to politically engaged investors in conservative states. The ETF suite covers national defense, innovation, iconic American brands, energy infrastructure and real estate development. Each fund charges a gross expense ratio of approximately 0.65%, significantly above the industry floor but pitched as a values-driven alternative to broad market index funds. Initial market reaction saw Trump Media shares dip following the ETF launch news, though the stock has since recovered a portion of those losses. Asset managers will watch inflows closely over the first year to gauge whether political identity can drive sustained demand for higher-cost thematic products.