this post was submitted on 10 May 2026
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Parent company of Truth Social reports $400M loss (www.ctvnews.ca)
submitted 1 week ago by sanitation@lemmy.radio to c/technology@lemmy.world
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[–] veeesix@lemmy.ca 56 points 1 week ago (2 children)

TMTG is also active in financial services, and the company announced US$2.5 billion in funding a year ago to invest in cryptocurrencies, one of Trump’s recent passions.

According to its filing, TMTG generated US$900,000 in revenue during the first quarter, a paltry amount for a company valued at US$2.47 billion on the stock market.

And suspiciously interesting,

TMTG said in December that it is merging with the American company TAE, which is developing nuclear fusion technology.

[–] manxu@piefed.social 32 points 1 week ago (1 children)

The part about TAE is devastating, as a lot of people had high hopes they would come up with a fusion reactor. Them being sold to TMTG probably means it was BS all along.

[–] Ludicrous0251@piefed.zip 9 points 1 week ago (1 children)

Promising a technology that has yet to be proven at any useful scale in even the most sophisticated labs is a big red flag in my book.

[–] manxu@piefed.social 6 points 1 week ago

Absolutely. But the founders are heavyweights in the field and I had hope. I guess it's cold fusion two, too good to be true 😭

[–] tempest@lemmy.ca 11 points 1 week ago

There is very likely some sort of energy grant that they are going to get to 'research'