Welcome to our dedicated page for Jet.AI news (Ticker: JTAI), a resource for investors and traders seeking the latest updates and insights on Jet.AI stock.
Jet.AI Inc. (NASDAQ: JTAI) generates news at the intersection of private aviation, artificial intelligence, and large-scale data center development. Founded in 2018 and based in Las Vegas, Nevada, the company describes itself as a provider or emerging provider of high-performance GPU infrastructure and AI cloud services, while continuing to operate Software and Aviation segments.
News about Jet.AI often highlights its strategic transition toward becoming a pure-play AI data center company. Coverage includes updates on its hyperscale data center projects in Midwestern and Maritime Canada through the Convergence Compute joint venture with Consensus Core Technologies Inc., as well as a planned 50-megawatt data center campus in Moapa, Nevada via a proposed joint venture with Choo Choo Express LLC. These stories focus on development milestones, capital commitments, site characteristics, and access to power, natural gas, and fiber connectivity.
Investors following JTAI news will also see regular reports on financial results, where Jet.AI breaks out revenue from Software App and Cirrus Charter activity, Management and Other Services, and Jet Card and Fractional Programs. Management commentary in these releases discusses the evolution of the aviation business, progress on data center milestones, and the company’s pivot toward AI and digital infrastructure.
Another recurring news theme is corporate and capital markets activity. Jet.AI has announced its role as a significant owner of the sponsor of AI Infrastructure Acquisition Corp., a SPAC focused on AI and data center opportunities, and has issued updates on an Amended and Restated Agreement and Plan of Merger and Reorganization with flyExclusive, Inc. News items also cover extensions of the merger agreement’s outside date, the withdrawal of a planned public offering, and amendments to preferred stock terms.
This JTAI news page aggregates press releases, transaction updates, project milestones, and regulatory disclosures so readers can monitor how Jet.AI’s aviation operations, AI tools, and data center initiatives develop over time.
Jet.AI announced a 1-for-225 reverse stock split effective November 12, 2024. The company's stock will continue trading on Nasdaq under symbol JTAI with new CUSIP number 47714H308. The split aims to regain compliance with Nasdaq's minimum bid price requirement and make additional shares available for future issuance. Every 225 shares will automatically convert to one share, with fractional shares rounded up. The split won't change par value or total authorized shares. Proportional adjustments will apply to equity awards, convertible preferred stock, and warrants.
Jet.AI (NASDAQ: JTAI) announced its participation in Corporate Jet Investor Miami 2024, scheduled for November 11-13, 2024, at the Fontainebleau Miami Beach. Company Founder and Executive Chairman Mike Winston will speak about green business aviation on November 13. The event will connect 500 industry leaders from 200 organizations. During the panel session, the Company will discuss its DynoFlight 2.0 platform, an AI-powered aviation carbon management solution that enables users to monitor emissions, interact with AI for emissions data, and track compliance with NBAA sustainable flight standards.
Jet.AI Inc. (NASDAQ: JTAI), a private aviation and AI company, has announced a $1.5 million registered direct offering. The company will sell approximately 15.6 million shares of common stock at $0.096 per share to institutional investors. The offering is expected to close around October 21, 2024, subject to customary conditions.
Maxim Group is acting as the exclusive placement agent. The shares are being offered under a shelf registration statement on Form S-3, which was declared effective by the SEC on September 9, 2024. Jet.AI operates in two segments: Software (featuring CharterGPT app and Jet.AI Operator platform) and Aviation (offering jet services).
Jet.AI Inc. (NASDAQ: JTAI) has announced significant advancements in its AI-driven software offerings, CharterGPT and Reroute AI. These enhanced features are set to debut at the 2024 NBAA Business Aviation Convention & Exhibition, with rollouts planned through November 2024.
CharterGPT is integrating voice capabilities and enhanced comprehension, enabling it to listen, understand, and execute booking requests efficiently. Reroute AI will autonomously scan and match empty leg inventory with consumer trip requests, connecting directly with aircraft operators.
Jet.AI Founder and Executive Chairman Mike Winston emphasized the company's vision of making machine interaction highly useful before human interaction. The company invites guests to experience these AI solutions at NBAA 2024 booth #955, with demos available for scheduling.
Jet.AI Inc. (NASDAQ: JTAI), a private aviation and AI company, has announced a registered direct offering of approximately 26.6 million shares of common stock at $0.09 per share. The offering is expected to generate gross proceeds of $2.4 million before deducting fees and expenses. The closing is anticipated around October 11, 2024, subject to customary conditions.
Maxim Group is serving as the exclusive placement agent. The offering is made pursuant to an effective shelf registration statement. Jet.AI operates in Software and Aviation segments, offering the CharterGPT app, Jet.AI Operator platform, and various aviation services. The company, founded in 2018, is based in Las Vegas and San Francisco.
Jet.AI Inc. (NASDAQ: JTAI), a private aviation and artificial intelligence company, has announced its participation in the 2024 NBAA Business Aviation Convention & Exhibition (NBAA-BACE). The event is scheduled for October 22-24, 2024 at the Las Vegas Convention Center in Las Vegas, Nevada.
NBAA-BACE is recognized as the world's largest business aviation event, showcasing cutting-edge business aircraft, advanced air mobility vehicles, and exhibits featuring innovations in aviation safety, sustainability, and accessibility. This platform provides Jet.AI with an opportunity to engage with industry leaders and showcase its innovative solutions in the private aviation sector.
Jet.AI (NASDAQ: JTAI), a private aviation and artificial intelligence company, has announced a shareholder webinar scheduled for Thursday, September 19th at 2pm EST. The webinar will feature Jet.AI Founder and interim CEO Mike Winston and interim CFO George Murnane, who will discuss the company's aviation and software opportunities. Investors and media are invited to submit questions in advance to Jet.AI@gateway-grp.com. The webinar will be accessible live and for replay through the company's investor relations website section. Interested parties can register for the event using the provided Zoom link.
Jet.AI Inc. (NASDAQ: JTAI) has launched the beta version of JetLeg.AI, a web-based app designed to repurpose empty private flights into cost-effective charters. The app, powered by AI technology, offers trip finding, matching, and personalized suggestions. Beta testers can explore the app's features at https://jetleg.ai/ before it goes live with aircraft operators.
Key features include AI-driven trip recommendations, learning from user behavior, and access to a variety of private jet flights. The app aims to provide significant savings for travelers while generating new revenue for jet operators. Native iOS and Android versions are expected in Q4 2024. JetLeg.AI utilizes Jet.AI's Reroute AI technology to deliver an intuitive and personalized travel experience.
Jet.AI (NASDAQ: JTAI) provided updates on its AI-driven aviation software solutions. CharterGPT saw significant user growth, processing $5.5 million in RFQs in August 2024. DynoFlight V2 achieved 10x speed improvements and expanded carbon credit projects. Reroute AI matched 2,029 trip needs with empty legs in 45 days.
The company is preparing to launch CharterGPT Version 2 in Q4 2024 with enhanced voice interaction capabilities. DynoFlight V2 now integrates with FL3XX, allowing users to participate in carbon credit projects. Jet.AI aims to create an intertwined ecosystem, combining these technologies to offer smarter, greener, and more efficient aviation solutions.
Jet.AI Inc. (NASDAQ: JTAI), a private aviation and AI company, has announced its entry into warrant amendments following a successful warrant exchange offer and consent solicitation. The company has exercised its right to exchange outstanding warrants for 10% fewer shares of common stock than initially offered. This Post-Offer Exchange is set for September 9, 2024, with the company expecting to issue approximately 2.4 million shares of common stock. After this exchange, no warrants will remain outstanding.
The company previously issued about 9.5 million shares of common stock for warrants tendered in the initial offer, increasing total outstanding shares by 75.5%. Following the Post-Offer Exchange, there will be approximately 27,054,217 shares outstanding, a 93.2% increase from before the offer. The redeemable and merger consideration warrants will be suspended from trading and delisted, while Jet.AI's common stock will continue trading on Nasdaq under 'JTAI'.
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