Jet.AI shares surge 38.38% premarket after authorizing $5.0 million share repurchase program to boost per-share value.

Jet.AI Inc. (Nasdaq: JTAI) surged 38.38% in premarket trading following the announcement of a $5.0 million share repurchase program authorized by its board on March 17, 2026. The program, which allows open-market and private transactions, reflects management’s belief that the stock’s market price “meaningfully understates intrinsic value” and aligns with disciplined capital allocation. Executive Chairman Mike Winston emphasized that buybacks would prioritize shareholder value by enhancing per-share economics while preserving flexibility for projects like the Midwestern power supply initiative. The move signals confidence in the company’s long-term prospects, particularly in its AI cloud and GPU infrastructure offerings, and was framed as a strategic response to favorable market conditions.