Chijet Motor shares surge 29.47% premarket after acquiring $1B EdgeAI tokens at 20% discount, creating $200M value.

Chijet Motor (CJET) surged 29.47% in premarket trading following two major announcements: a $11.0 million registered direct offering and a strategic partnership to acquire up to $1 billion in EdgeAI tokens at a 20% discount. The direct offering, involving 8.46 million shares, provides immediate liquidity for operations, while the EdgeAI agreement—projected to generate $200 million in upfront value and recurring staking revenue—positions Chijet as a participant in blockchain-enabled technologies. The partnership, emphasizing digital asset diversification and regulatory compliance, likely drove investor optimism about long-term growth and innovation, overshadowing the more conventional capital raise. Both events were bullish, but the EdgeAI deal’s transformative scope and potential for recurring income made it the primary catalyst for the sharp premarket rally.