Jet.AI shares surge 61.32% intraday after announcing joint venture for 50MW Nevada data center project.

Jet.AI surged 61.32% intraday after announcing a joint venture with Choo Choo Express to develop a 50-megawatt data center in Moapa, Nevada, projected at $500 million enterprise value, and outlining a strategic shift to AI infrastructure with three data center projects. The shareholder letter highlighted $9 million in cash, no debt, and potential returns of $300 million to $2.5 billion over 1–3 years through powered-land sales, refinancing, or REIT structures. The sale of its aviation business to flyExclusive, expected to reduce operating costs by 30%, and a 49.5% stake in AI Infrastructure Acquisition Corp. (valued at $17 million) further reinforced growth prospects. Financing flexibility via a $50 million Hexstone facility and a $35 million at-the-market equity program underscored the company’s ability to execute its expansion plans, driving investor optimism.