Shares of Trump Media & Technology Group (DJT) soared nearly 35% on Thursday⁤ evening following⁤ news of its investment in ​TAE Technologies, a California-based company developing fusion energy technology. The surge comes as key players in the energy sector and tech giants vie for access to this perhaps revolutionary power​ source.

TAE Technologies and the Promise⁢ of Fusion Power

TAE Technologies is focused on‍ achieving nuclear fusion, a process that powers the sun, as a clean energy source. The company is⁤ developing a hydrogen-boron fusion‌ reactor, aiming to overcome⁣ the challenges that have long⁢ hindered fusion energy development. According to ⁣TAE Technologies, their approach ​avoids the‍ use of tritium, a radioactive isotope of ​hydrogen ⁣used in many other ⁤fusion reactor ‌designs, and doesn’t produce long-lived radioactive waste. TAE Technologies ⁣website

TAE hopes that nuclear​ power with fusion technology will position the⁣ company⁣ for⁣ significant growth and success.

Political and Industry Support

Devin⁣ Nunes, CEO of Trump Media ​and former U.S. Representative, highlighted the potential impact of fusion ⁤power. “Fusion power will be the most dramatic energy breakthrough since commercial nuclear power in the 1970s -​ an‍ innovation that will lower​ energy prices, increase access and ensure American AI dominance, revive our basic manufacturing industries and strengthen the defense,” Nunes stated in a press release.

Microsoft founder Bill⁣ Gates, through his investment company breakthrough Energy Ventures, is also actively investing in fusion energy research. ⁣ Gates wrote in October 2023 that fusion energy “could be as transformative as the ‍invention of the steam engine before the Industrial Revolution.”

Stock Performance and Regulatory Advantages

The news⁢ of the investment caused Trump Media’s stock to rise by almost 35% on the New York Stock Exchange during Thursday evening trading. The⁤ company, ​which operates the social media​ platform Truth Social and has ventures in crypto, had previously ​declined​ by nearly 60% since Donald Trump’s election victory in November 2023. Market watch reported.

Wedbush analyst Dan ives explained to Market Watch ​ that fusion power ⁢benefits from a ‍more streamlined⁤ regulatory process compared to conventional nuclear power. ⁣ Fusion facilities are classified as industrial plants, avoiding the stricter regulations‌ and‍ meltdown ⁤risks