Energy Transition & Power Demand▲
Jet.AI Invests in StratGrid to Develop 200MW+ Natural Gas Data Center in Alberta
Jet.AI has made a strategic equity investment in StratGrid, a developer of behind-the-meter natural gas-powered data centers in Alberta, Canada. Jet.AI invested $1.75 million USD through SG Canada InvestCo LLC, giving it an approximately 26% common equity interest in StratGrid on a fully vested basis. StratGrid's first project, Project Wheatland in Wheatland County, is designed for about 200 megawatts of generation capacity with expansion potential beyond 1 gigawatt, and together with a second site, Project Mountain View, the platform could scale to over 2 gigawatts of combined capacity over time. The investment adds gigawatt-scale AI data center capacity potential to Jet.AI's growing portfolio, leveraging Alberta's abundant natural gas and supportive regulatory environment.
JTAI
Jet.AI Signs Non-Binding Letter of Intent for $320 Million Business Combination
Jet.AI announced a non-binding letter of intent for a proposed business combination with a privately held operating company in a transaction valued at approximately $320 million in enterprise value. The proposed deal would merge the existing Jet.AI entity with the unidentified operating company while retaining the NASDAQ ticker JTAI, and simultaneously spin off its data center business into an independent public company under the reserved ticker DCTR. Completion remains subject to due diligence, definitive agreements, shareholder approvals, regulatory clearances, and Nasdaq listing requirements. Separately, Xeriant received U.S. Patent No. 12,679,047 for its multilayered fire-resistant polymer composite technology used in its DUREVER materials platform and NEXBOARD construction panels. Picard Medical reported an 85% year-over-year increase in first-quarter 2026 revenue and improved gross margin to 24%, while continuing development of its Emperor artificial heart platform. Lucid attracted renewed retail investor attention following a rebound from unfounded bankruptcy rumors.
Cloud & Digital Infrastructure
Jet.AI signs non-binding letter of intent for merger and data center spin-off
Jet.AI has entered into a non-binding letter of intent for a proposed business combination with a privately held operating company, a deal expected to be priced at approximately $320 million in total enterprise value, with roughly $20 million of that amount allocated to Jet.AI shareholders. As a condition of the proposed transaction, Jet.AI would spin off its data center business and its ownership interest in AIIA Sponsor Ltd. into a new independent public company, with shares distributed to existing Jet.AI stockholders through a Form 10 registration. The combined company would continue trading under the ticker JTAI, while the ticker DCTR has been reserved for the new data center entity. The identity of the counterparty and additional commercial terms remain confidential pending due diligence and definitive agreements. Completion of the transaction is subject to due diligence, definitive documentation, and regulatory and stockholder approvals, with no assurance it will be finalized.
JTAI▲
Jet.AI closes merger with flyExclusive, advancing AI infrastructure pivot
Jet.AI has completed its merger transaction with flyExclusive, marking a key step in its transition to a pure-play AI infrastructure company. Stockholders of record as of July 6, 2026 received one share of Jet.AI SpinCo common stock for each Jet.AI share held, with the distribution completed on July 13, 2026 immediately before the merger. The merger consideration totals 7,096,115 shares of flyExclusive Class A common stock, of which 5,676,892 shares were issued at closing and the remaining 1,957,402 shares are held in reserve pending a final purchase price determination in 90 days. If the final price is at or above the closing calculation, the reserve shares will be issued in full; if lower, flyExclusive will retain shares equal to the shortfall and issue any remainder.
Jet.AI Stockholders Approve Proposed flyExclusive Transaction
Jet.AI stockholders have approved the proposed transaction with flyExclusive at a reconvened special meeting held on July 2, 2026. Of the 1,421,721 shares outstanding and entitled to vote, 778,325 were represented at the meeting, with approximately 99% of votes cast in favor of the deal. Upon closing, expected on or about July 7, 2026, Jet.AI stockholders as of the July 6 record date will receive merger consideration while retaining their existing Jet.AI shares. The transaction is designed to allow Jet.AI to sharpen its focus on AI infrastructure and cloud services, while enabling flyExclusive to expand its private aviation platform.
Jet.AI adjourns flyExclusive vote to July 2, needs 29,594 more shares for approval
Jet.AI has adjourned its special shareholder meeting on the proposed flyExclusive transaction to July 2, 2026, after falling just 29,594 shares short of the majority needed for approval. A total of 688,430 shares, representing approximately 48.4% of the 1,421,721 shares outstanding and entitled to vote, were represented at the meeting, with about 99.0% of those votes cast in favor of the deal. The company emphasized that not voting has the same effect as voting against the transaction, and both Institutional Shareholder Services and Glass Lewis have recommended stockholders vote in favor. The record date for the distribution of Jet.AI SpinCo shares has been moved from June 25 to July 6, 2026.
USA