Latest news with #PatriotEconomy
Time of India
5 days ago
- Business
- Time of India
Donald Trump's company is working to bring AI search to his Twitter alternative
US President Donald Trump Donald Trump 's media venture, Truth Social , has announced that it will integrate artificial intelligence (AI) search capabilities directly into the President's social media platform. For this, the company has partnered with Perplexity , an AI-powered search engine. The move positions Truth Social, often touted as an alternative to Elon Musk's X (formerly Twitter), to offer AI-driven web search to its browser users. 'We're proud to partner with Perplexity to launch our public Beta testing of Truth Social AI, which will make Truth Social an even more vital element in the Patriot Economy,' stated Devin Nunes, CEO of Trump Media and Chair of the President's Intelligence Advisory Board. Truth Search AI – currently appearing on the Web version of Truth Social – is planned to begin public Beta testing on the Truth Social apps for iOS and Android in the near future. Donald Trump launches 'Made in America' smartphone Earlier this year, Donald Trump's business portfolio officially expanded after the launch of Trump Mobile and its flagship T1 smartphone . The venture, unveiled by Donald Trump Jr. and Eric Trump at Trump Tower in New York, emphasises "made in America" manufacturing and domestic customer support, according to news agency Reuters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This new air conditioner cools down a room in just seconds News of the Discovery Undo 'We've partnered with some of the greatest people in the industry to make sure that real Americans get true value from their mobile carriers,' Donald Trump Jr. stated at the announcement. The T1 Phone, a gold-coloured Android smartphone, is set for release in August with a price tag of $499. Customers can pre-order the device with a $100 down payment. Marketed as "designed and built in the United States," the T1 Phone directly targets consumers seeking American-made alternatives in a smartphone market predominantly manufactured overseas. Realme Buds T200 Review: Vibrant Sound, Sleek Design AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Upturn
6 days ago
- Business
- Business Upturn
Trump Media Begins Public Beta Testing AI Search Engine
Perplexity Partners on Truth Social Search Function SARASOTA, Fla., Aug. 06, 2025 (GLOBE NEWSWIRE) — Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) ('Trump Media' or the 'Company'), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand announced today that the company has begun public Beta testing its new AI search feature, Truth Search AI, on the Truth Social platform. Powered by Perplexity, a software and AI company dedicated to providing direct, contextually accurate answers with transparent citations, Truth Search AI is intended to enhance the Truth Social platform and exponentially increase the amount of information available to its users. Trump Media's CEO and Chairman Devin Nunes said, 'We're proud to partner with Perplexity to launch our public Beta testing of Truth Social AI, which will make Truth Social an even more vital element in the Patriot Economy. We plan to robustly refine and expand our search function based on user feedback as we implement a wide range of additional enhancements to the platform.' Dmitry Shevelenko, Chief Business Officer at Perplexity, said, 'We're excited to partner with Truth Social to bring powerful AI to an audience with important questions. Curiosity is the engine of change, and Perplexity's AI is developed to empower curiosity by delivering direct, reliable answers with transparent citations that allow anyone to dig deeper.' Currently appearing on the Web version of Truth Social, Truth Search AI is planned to begin public Beta testing on the Truth Social apps for iOS and Android in the near future. Cautionary Statement About Forward-Looking Statements This press release includes forward-looking statements regarding, among other things, the plans, strategies, and prospects, both business and financial, of Trump Media. We have based these forward-looking statements on our current expectations and projections about future events, including expected potential merger & acquisition activity, the rollout of products and features, our Bitcoin treasury strategy, the future plans, timing and potential success of the streaming services and the launch and success of our financial services and FinTech platform. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words 'believes,' 'estimates,' 'expects,' 'projects,' 'forecasts,' 'may,' 'will,' 'should,' 'seeks,' 'plans,' 'scheduled,' 'anticipates,' 'soon,' 'goal,' 'intends,' or similar expressions. Forward-looking statements are not guarantees of future performance, and involve risks, uncertainties and assumptions that may cause our actual results to differ materially from the expectations that we describe in our forward-looking statements. There may be events in the future that we are not accurately able to predict, or over which we have no control. About Trump Media The mission of Trump Media is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. Trump Media is also launching a financial services and FinTech brand incorporating America First investment vehicles. About Perplexity Perplexity is an AI-powered answer engine that draws from credible sources in real time to accurately answer questions with in-line citations, perform deep research, and more. Founded in 2022, the company's mission is to serve the world's curiosity by bridging the gap between traditional search engines and AI-driven interfaces. Each week, Perplexity answers more than 150 million questions globally. Perplexity is available in the app store and online at Investor Relations Contact Shannon Devine (MZ Group | Managing Director – MZ North America) Email: [email protected] Media Contact [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
22-04-2025
- Business
- Yahoo
Trump Media's fintech arm will launch a string of ‘Made in America' ETFs with Crypto.com
Trump Media & Technology Group announced it officially signed an agreement to start several ETFs through its fintech brand, The ETFs will be available through broker dealer and will invest in cryptocurrencies and the energy sector, according to a press release. the fintech brand of the Trump Media & Technology Group (TMTG), signed an official agreement with one of the largest cryptocurrency platforms in the world, to launch several 'Made in America'-themed ETFs. The partnership and ETFs were announced last month, but became official Tuesday. TMTG, whose flagship product is the social media platform Truth Social, branched out into financial services in January with its service. The deal with marks TMTG's official entry into the ETF market. TMTG had previously inked an agreement with Charles Schwab to launch a series of separately managed accounts. Over the course of the last year, TMTG has made significant strides to expand its portfolio of digital businesses beyond Truth Social. Last year, it launched a streaming service; this year, it has made notable headway in standing up a fintech platform. bills itself as part of the 'Patriot Economy,' a conservative effort to build a parallel financial system. The idea is that many existing financial institutions like banks, brokerage firms, and exchanges are too liberal. To compete with existing firms, companies like TMTG are trying to set up their own set of financial products. TMTG's ETFs, labeled Made in America, will consist of digital assets and securities in industries such as energy, according to a company statement. The ETFs will be sold through broker dealer, Foris Capital US LLC. One of TMTG's longtime financial partners, Yorkville Advisors, is also involved in the company's financial-services endeavors. One of Yorkville's subsidiaries will serve as an asset manager for the ETFs. Yorkville is also the registered investment advisor for TMTG's investment products offered via Charles Schwab. TMTG and Yorkville's finances are heavily intertwined. Last year, the two companies signed a standby equity purchase agreement, which is a specific kind of contract that allows a company to sell discounted shares to a firm that is then obligated to buy them. These sorts of agreements can be mutually beneficial because they offer a company like TMTG a guaranteed buyer of shares should they need to raise capital. At the same time, Yorkville can buy TMTG stock at a discount, paying only 97.25% of the share price, which it can then sell on the open market at full price. In 2024, TMTG raised about $450 million from this financial arrangement, according to SEC filings. TMTG's foray into financial services, with a focus on crypto, marks the latest such venture in President Donald Trump's business portfolio. Trump, who is TMTG's largest shareholder via a revocable trust controlled by his son Donald Trump Jr. (who is also a company board member), has in recent months launched several of his own cryptocurrency businesses. Shortly before his inauguration in January, Trump and his wife, first lady Melania Trump, launched memecoins. The two cryptocurrencies shot up in value before the price eventually fell. With his memecoin, Trump not only makes money based on the value of the coin, but also from trading fees as other investors buy and sell the coin. Trump also has a separate crypto venture called World Liberty Financial that lets users borrow, lend, and invest in cryptocurrencies. This story was originally featured on Sign in to access your portfolio
Globe and Mail
06-02-2025
- Business
- Globe and Mail
Trump Media Is Moving Into Financial Services. Is DJT Stock a Buy, Sell, or Hold Now?
Trump Media & Technology Group (DJT), a conglomerate synonymous with the Trump brand, is a stock tethered to President Donald Trump. Its value ebbs and flows with every political twist, every legal battle, every headline bearing the Trump name. Now, the company is venturing into fintech with a foray into cryptocurrencies, exchange-traded funds (ETFs), and customized investment vehicles. TMTG plans to funnel up to $250 million into digital assets and 'Patriot Economy' investments, signaling ambitions beyond social media. With Charles Schwab (SCHW) in the mix, Trump Media could soon offer financial products to retail investors, amplifying its market presence. TMTG has been bleeding cash and its growth has stalled as investor confidence wanes. Will help build the foundation of a legitimate financial empire or end up just another headline-fueled frenzy? About Trump Media & Technology Stock Founded in 2021, Florida-based Trump Media & Technology Group (DJT) made waves with its high-profile SPAC merger. With a $6.6 billion market capitalization, TMTG aims to disrupt the digital media landscape. The company's Truth Social, aims to provide a free-speech-oriented alternative to legacy social media platforms, while Truth+ offers family-friendly streaming content. DJT stock slipped 61.4% from its March highs of $79.38, with a 36% drop over the past 52 weeks. However, shares gained 6.8% on Jan. 29 after Trump Media unveiled its brand, signaling a major push into fintech. The move has sparked notable valuation gains and renewed investor interest. From the valuation standpoint, DJT stock is priced at 1,013.23 times sales, trading at a significant premium to the industry average. Trump Media's Q3 Shows Setbacks but Cash Flow Remains Strong On Election Day, Trump Media reported its Q3 earnings, and the market reacted with a sharp dip in its stock price on Nov. 6. Revenue barely hit $1 million, down 5.6% year-over-year, while operating losses surged to $23.7 million, up from $3 million last year. Legal costs, software expenses, and finance fees inflated the company's general and administrative expenses to $17.7 million, with a net loss of $19.2 million or $0.10 per share. Despite the struggles, TMTG's cash position remains strong, with $672.9 million in hand and zero debt. The company leaned into this financial strength to boost its new venture, Truth+, its streaming service. During Q3, TMTG launched a content delivery network, native mobile apps, and expanded its web and connected TV access, signaling an aggressive push to expand in the competitive streaming space. While Truth Social initially gained traction as a free speech haven following Trump's social media bans, the landscape has shifted with other platforms like Facebook, Instagram, YouTube, and X (formerly Twitter) lifting restrictions. This has left Truth Social with lower engagement and monetization, while its streaming service is unlikely to make a significant impact until next year. Trump Media Bets Big on Fintech Trump has stirred up a crypto storm recently, launching a meme coin frenzy and now diving headfirst into the world of finance. Trump Media & Technology Group is rolling out a financial services division designed to offer a suite of tailored financial products to its loyal user base. The company has partnered with Charles Schwab to provide investment advice and strategy, with plans to offer customized separately managed accounts (SMAs), ETFs, and investments in Bitcoin (BTCUSD) and other crypto-related assets. Truth Social CEO Devin Nunes says the financial products are aimed at 'American patriots' seeking protection from what he calls the growing threats of censorship, de-banking, and privacy violations. This move follows closely behind the debut of $TRUMP, a cryptocurrency launched by the president himself. It also comes on the heels of Trump's recent criticisms of Bank of America (BAC) and JPMorgan Chase (JPM) for allegedly restricting conservatives' access to banking services. To kick-start TMTG is allocating $250 million from its roughly $700 million cash pile to be custodied by Schwab. The funds will be directed toward American growth, manufacturing, energy, and other investments designed to support what TMTG calls the 'Patriot Economy.' is set to roll out its financial products later this year. Trump Media Faces Uncertain Future Trump Media stands at a crossroads, straddling ambition and financial fragility. A healthy cash reserve offers some breathing room, but mounting losses demand a clear path to scalability - one the company has yet to chart. Its core business - Truth Social and streaming platform Truth+ - lacks the engagement and monetization needed to justify its market cap. Revenues remain anemic, with only $2.6 million in sales across three quarters, raising concerns about long-term viability. The company's pivot into fintech and crypto investments via signals an attempt to revitalize growth, but uncertainty looms. For now, DJT remains a stock ruled by headlines, not fundamentals. Without a compelling growth story beyond hype, Trump Media risks being just another overvalued meme stock, teetering on the edge of investor patience and market gravity.
Yahoo
29-01-2025
- Business
- Yahoo
Trump's Media Group Eyes ETFs With Politically Focused Venture
President Donald Trump's finance and media company is taking aim at the ETF industry with plans to launch funds and crypto investments through its new brand, with a focus on "investments that strengthen the Patriot Economy." The company, Trump Media & Technology Group Corp, which has a ticker of DJT, didn't unveil a specific exchange-traded fund in its Wednesday announcement. Charles Schwab Corp., the fifth-largest U.S. ETF issuer, has been tapped to custody $250 million in investments, which is on top of the company's cash and cash-equivalent reserves of over $700 million as of year's end, the release said. The move comes nine days after Trump was sworn in amid a flurry of executive orders and statements aimed at nudging the global economy and culture in a more conservative direction. The company, created to hold Trump's Truth Social platform shortly after he was banned from Twitter in 2021, says on its website "No Political Discrimination, Canceling Cancel Culture, Standing Up to Big Tech," and according to the statement, seeks to develop "American First" investment vehicles. TMTG shares rose 6.4% in afternoon trading. The project "is another step toward our goal of creating a robust ecosystem through which American patriots can protect themselves from the ever-present threat of cancellation, censorship, debanking, and privacy violations committed by Big Tech and woke corporations," Trump Media CEO and former California Congressman Devin Nunes said in the statement. The move represents a growing trend of investment products catering to political ideologies, with joining existing conservative-focused funds like the God Bless America ETF (YALL) and Point Bridge America First ETF (MAGA) in offering alternatives to traditional ESG investments. The announcement follows recent complaints from Republicans about alleged discrimination by major banks. During a World Economic Forum appearance last week, President Trump directly challenged Bank of America CEO Brian Moynihan over claims of conservatives being 'locked out' of banking services. planned investment vehicles will require regulatory approval, particularly for crypto-related offerings. Politically and ideologically driven ETFs have historically struggled to outperform broader market indices. President Trump owns 114,750,000 shares of Trump Media, also with the ticker DJT, through a revocable trust, according to a regulatory filing. TMGT's dual role as both a media company and financial services provider may raise conflict of interest concerns, particularly regarding the promotion of investment products through its Truth Social platform. The launch of follows a broader trend of social media platforms expanding into financial services, with X recently announcing a partnership with Visa for its own fintech initiatives. Trump's first days in office generated and unprecedented mix of finance and politics. There were launches of $TRUMP and $MELANIA crypto coins, while Rex Shares and Osprey Funds filed for a Trump-themed ETF designed to track Trump-associated cryptocurrencies and blockchain projects, according to SEC filings. "The Company anticipates that products and services, including multiple investment vehicles, will be rolled out in 2025 as new agreements are consummated, funding levels are determined, and any necessary approvals by financial regulators are secured," the statement | © Copyright 2025 All rights reserved
