Trump Shifts Focus from Crypto to Nuclear Fusion Amid AI Data Center Boom

Trump Media & Technology Group (TMTG) is shifting its focus from cryptocurrency to nuclear fusion, driven by growing demand for power in AI data centers. TMTG posted a $644 million net loss in the first half of this year, citing the decline in Bitcoin prices as the main reason.

The company plans to invest $300 million in TAE Technologies, a leading player in the fusion industry, with the goal of commercializing fusion power by 2031. However, fusion energy has yet to prove its commercial viability and has faced numerous setbacks in the past.

TMTG's CEO Kevin MacGann emphasized that energy will become a 'strategic asset' for the company as AI and data center power consumption continue to grow. The company is also launching a subscription service called Truth API, which delivers President Trump's public posts to investors at a fee of $60,000 to $100,000 per month.

The move marks a significant pivot in TMTG's business strategy, away from its struggling cryptocurrency division and towards more traditional energy sources. However, the company still faces significant challenges in its core social media business, with user numbers declining by 40% over the past year.