New York, May 28, 2026, 18:03 EDT
- Jet.AI closed at $9.24, up 9.2%. Shares moved between $8.20 and $9.49 during the session.
- The next key date is June 11. That’s when holders are set to vote on the flyExclusive deal.
- The company’s most recent 10-Q again points to funding risks and ongoing operating losses.
Jet.AI Inc. jumped Thursday, beating the broader Nasdaq. Traders are watching for a June shareholder vote that could separate the company’s aviation business and push the remaining listed firm deeper into AI infrastructure.
The stock, listed on Nasdaq, last traded at $9.24 as of 5:35 p.m. EDT, gaining 78 cents, or 9.2%. Shares moved between $8.20 and $9.49 during the session. Market data showed volume at 572,722 shares.
Jet.AI is asking investors to approve an all-stock deal with flyExclusive Inc. at a special meeting set for June 11, now less than two weeks away. The company’s proposal would pay out shares, not cash, to shareholders if the transaction goes through.
Jet.AI said it has sent proxy materials to shareholders of record as of May 8 for a vote on its proposed deal with flyExclusive. If approved, Jet.AI holders would get flyExclusive common stock in exchange for the company’s aviation assets and keep their Jet.AI shares. The company said those shares would now reflect a business focused on AI infrastructure.
Jet.AI founder and executive chairman Mike Winston said the effectiveness of flyExclusive’s Form S-4 registration is the “largest regulatory milestone to date,” according to the company. Winston urged holders to back the deal in the vote.
Stocks rallied with the Nasdaq Composite closing at another record, up 0.9% on Thursday. The S&P 500 gained 0.6%, and the Dow also finished higher, AP data showed.
Jet.AI’s float magnifies moves. The company put its common shares outstanding at 1,421,721 in a quarterly filing as of May 13. That supply means the stock can react more to order flow than bigger companies.
Jet.AI turned in mixed first-quarter results. Revenue fell to $1.68 million for the period through March 31, sliding from $3.47 million last year. Net loss was $2.68 million, not as deep as the $3.17 million loss in the same quarter a year ago. The company finished with $13.5 million in cash and equivalents, up from $1.8 million at year-end.
Deal chatter has flyExclusive as the key peer and counterparty. The stock was last seen at $2.62, up 1.95%. Wheels Up Experience, another public private-jet operator, traded at $8.86, up 9.1%.
Jet.AI is hitting AI data-center milestones at its North American locations, Winston said in the first-quarter release. The company wants to set itself up as a “pure-play leader” in AI infrastructure. GPUs—graphics-processing units—are the main chips for building and running AI models.
The trade comes with risk. Jet.AI flagged in its 10-Q that it has a short operating record and recorded losses, which put its future as a going concern in question. The company also projected operating losses for at least the next year and signaled it might look for funding by selling debt or equity. New stock sales can dilute current shareholders, cutting their piece of the company.
Uncertainty around the vote remains. Jet.AI has said a lack of votes counts as a no, so turnout could be as important as support. If the deal gets voted down or delayed, the stock’s recent rise could unwind fast.
