Jet.AI outlines data center expansion plans in shareholder letter

Jet.AI Inc. (NASDAQ: JTAI) released its annual shareholder letter detailing progress on three data center development projects and strategic priorities for 2026. The company reported approximately $9 million in cash and no debt as of the letter's writing.

The Las Vegas-based company is developing data center projects in Manitoba, the Canadian Maritimes, and Nevada through partnerships. Jet.AI owns 17.5% of the general partner equity interest in the Manitoba and Maritimes projects, and has signed a term sheet for 25% of the general partner equity in the Nevada project.

The company estimates requiring approximately $6.1 million in capital commitments for 2026 and $9.9 million for 2027 to advance these developments. Jet.AI has access to a $50 million facility with Hexstone, a $35 million at-the-market equity program, and a $250 million shelf registration for financing.

Jet.AI continues working toward completing the sale of its aviation business to flyExclusive (NYSE: FLYX). The transaction has been under SEC review for approximately one year due to an accounting disclosure matter related to flyExclusive's 2023 financials. Upon completion, the deal would provide JTAI shareholders with approximately four million flyExclusive shares, valued at about $13.4 million based on flyExclusive's $3.32 closing price on January 29, 2026.

The company owns 49.5% of the sponsor entity for AI Infrastructure Acquisition Corp. (NYSE: AIIA), a special purpose acquisition company holding approximately $138 million in trust with about fifteen months remaining to complete a transaction. Jet.AI values its indirect interest in approximately 2.3 million AIIA Class B shares at roughly $17 million, applying a 25% discount to the $10.00 trading price of Class A shares.

Executive Chairman Mike Winston stated that the company's data center opportunities stem from "a rare alignment: a global competition for computing infrastructure and a genuine technological breakthrough in how machines process information."

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