Jet.AI, CCT announce agreement to develop hyperscale data center campus

Jet.AI (JTAI) and Consensus Core Technologies, CCT, announced the execution of a definitive agreement to jointly develop a phased hyperscale data center campus in Midwestern Canada. The initiative positions Jet.AI as a pure-play AI data center enterprise targeting critical infrastructure shortages in the rapidly expanding artificial intelligence market. In addition to their ownership in the joint venture, both Jet.AI and Consensus Core shall hold a direct ownership interest in each Project. Pursuant to the definitive agreement, Consensus Core shall contribute 100% of the equity of the Midwestern Project to the joint venture. Jet.AI shall contribute up to an aggregate $20 million USD to the joint venture in five tranches tied to specific Project development milestones. In consideration for such investment, Jet.AI will receive a 17.5% equity promote up front and then a modest additional equity interest in the joint venture upon each investment.