LAS VEGAS, NV, June 09, 2026 (GLOBE NEWSWIRE) -- Jet.AI Inc. (NASDAQ: JTAI) (the "Company" or "Jet.AI"), an emerging provider of high-performance GPU infrastructure and AI cloud services, today announced that its Board of Directors (the “Board”) has authorized a formal review of strategic alternatives with respect to the Company's equity interest in Space Exploration Technologies Corp. ("SpaceX").
The Board's review will consider a full range of potential alternatives intended to maximize shareholder value, which may include, without limitation: the acquisition of additional equity in SpaceX; the retention of the Company's existing position; distribution of the Company’s SpaceX interest to shareholders in the form of a spin-off or special dividend; sale or transfer of all or a portion of the interest; other alternatives as the Board may determine to be in the best interests of the Company and its shareholders.
As previously announced in April 2026, Jet.AI made a $5.0 million strategic investment intended to provide an economic interest in SpaceX and its related subsidiaries, including but not limited to x.AI / Grok, Starlink, and X (formerly Twitter). The Company believes this investment carries strategic relevance in light of recent developments in connection with SpaceX’s widely reported initial public offering. The approximate valuation of $1.75 trillion would rank the highly anticipated SpaceX IPO as the largest in history. Jet.AI and the Board believe it is appropriate to evaluate all available alternatives considering the potential value represented by the Company’s SpaceX economic interest.
The Board has engaged independent financial and legal advisors to assist in the review process. The Company does not intend to disclose further developments with respect to this process unless and until the Board has approved a specific course of action or otherwise determines that disclosure is required. No decisions have been made at this time, and there can be no assurance that the review will result in any transaction or other strategic action, or as to the timing or terms of any such outcome.
About Jet.AI Inc.
Jet.AI Inc. (NASDAQ: JTAI) is a technology-driven company focused on deploying artificial intelligence tools and high-performance GPU infrastructure to enhance decision-making, efficiency, and performance across complex systems. The Company is listed on the NASDAQ Capital Market under the ticker symbol "JTAI." To learn more, visit www.jet.ai.
Forward-Looking Statements
This press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of the federal securities laws, including the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, with respect to the products and services offered by Jet.AI and the markets in which it operates, Jet.AI's projected future results, and Jet.AI's perception of market conditions, including the expected timing of the closing and the future business strategy of Jet.AI. Statements that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to future events or our future performance or future financial condition. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about our Company, our industry, our beliefs and our assumptions. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions or the negative of these terms or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results, including the failure to obtain stockholder approval, the failure to satisfy closing conditions, and broader market conditions. As a result, caution must be exercised in relying on forward-looking statements, which speak only as of the date they were made. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements, and Jet.AI assumes no obligation and does not intend to update or revise these forward-looking statements, whether because of new information, future events, or otherwise, except as provided by law.
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