Powered Land: Jet.AI and Consensus Core Complete Milestone Three of Canadian Hyperscale Data Center Projects

Jet.AI (Nasdaq: JTAI) and Consensus Core completed the third milestone package for their joint venture Convergence Compute's Midwestern and Maritime hyperscale data center campuses on March 16, 2026.

Rhea-AI Summary

Jet.AI (Nasdaq: JTAI) and Consensus Core completed the third milestone package for their joint venture Convergence Compute's Midwestern and Maritime hyperscale data center campuses on March 16, 2026.

Midwestern milestones: submission of a Transmission Power Load Study Application and natural gas supply confirmation for up to six turbines. Maritime milestones: an executed letter of intent to acquire hydro and proposed wind power and assignment of Consensus Core’s lease rights for the Maritime project to Convergence Compute.

Positive

• Natural gas supply confirmed for up to six turbines at Midwestern campus
• Assignment of lease rights transfers Consensus Core’s Maritime property rights to Convergence Compute
• Transmission Power Load Study application submitted for Midwestern campus

Negative

• None.

Argus Mar 16 session

-1.55% close to close Open Argus

Details

News Market Reaction – JTAI

In the Mar 16 session, JTAI declined 1.55%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement advances Jet.AI’s AI infrastructure pivot by completing Milestone Three for its Mi...

Analysis

This announcement advances Jet.AI’s AI infrastructure pivot by completing Milestone Three for its Midwestern and Maritime Canadian campuses, including power-load studies, natural gas arrangements for up to six turbines, and power sourcing via hydro and a proposed wind farm. It follows earlier AI-tagged milestones and JV plans across Canada and Nevada. Investors may watch for future disclosures on financing via the unused $250 million shelf and on further project approvals or offtake visibility.

Key Figures

Turbine capacity: six turbines Milestone count: third milestone

Turbine capacity

six turbines

Natural gas supply confirmation for Midwestern campus

Milestone count

third milestone

Completion of third set of project milestones

Previous AI Reports

5 past events · Latest: Feb 13

Same Type 5 events

1. Feb 13

   Rights plan adoption

   24h Move

   -25.4%

   Adopted limited-duration stockholder rights plan with 10% trigger and low redemption.

2. Jan 14

   Merger timing update

   24h Move

   +13.7%

   Extended flyExclusive merger outside date and reaffirmed commitment to close.

3. Dec 23

   Moapa JV announcement

   24h Move

   -28.3%

   Announced 50 MW Moapa NV data center JV with illustrative $500M project value.

4. Dec 04

   Midwestern site chosen

   24h Move

   +6.6%

   Selected 350-acre Midwestern Canadian campus site with major power infrastructure.

5. Nov 07

   Second milestone JV

   24h Move

   +2.8%

   Completed second milestones for Canadian projects with cash and asset contributions.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

gpu infrastructure, ai cloud services, hyperscale data center

3 terms

gpu infrastructure technical

"an emerging provider of high-performance GPU infrastructure and AI cloud services"

GPU infrastructure is the combination of specialized graphics processors, surrounding hardware, and software systems used to run very fast, repetitive calculations—common in artificial intelligence, graphics, and scientific modeling. For investors it matters because these setups drive performance, cost and scalability for companies relying on advanced computing; like upgrading from a family car to a fleet of high-speed delivery trucks, better GPU infrastructure can create a measurable competitive edge or require significant capital investment.

ai cloud services technical

"provider of high-performance GPU infrastructure and AI cloud services"

AI cloud services are online platforms that provide computing power, storage, and ready-made software so businesses can run artificial intelligence models and analyze large datasets without owning the hardware—like renting a scalable, intelligent toolkit and data center on demand. Investors care because widespread use creates steady, recurring revenue, lowers customer costs for launching AI products, and can concentrate market share and pricing power among providers, all of which affect future profits and company value.

hyperscale data center technical

"Midwestern and Maritime hyperscale data center campuses operated by their joint venture"

A hyperscale data center is a very large, highly automated facility designed to house thousands of servers and networking devices that can quickly expand to handle massive computing and storage needs. For investors it matters because these centers support cloud services, streaming and AI workloads that drive steady, high-volume revenue; owning or serving hyperscale capacity signals scale, lower per-unit costs and exposure to fast-growing digital demand.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Las Vegas, NV, March 16, 2026 (GLOBE NEWSWIRE) -- Jet.AI Inc. ("Jet.AI" or the "Company") (Nasdaq: JTAI), an emerging provider of high-performance GPU infrastructure and AI cloud services, and Consensus Core Technologies Inc. (“Consensus Core”), today announced the completion of the third set of milestones for the Midwestern and Maritime hyperscale data center campuses operated by their joint venture, Convergence Compute LLC (“Convergence Compute”).

The completed milestones for the Midwestern campus include:

• Submission of a Transmission Power Load Study Application by Convergence Compute
• Natural gas supply confirmation for up to six turbines at the Midwestern campus

The completed milestones for the Maritime campus include:

• Executed letter of intent for Convergence Compute to acquire power from hydro and the producer’s proposed wind farm for use by the Maritime campus
• Assignment of all of Consensus Core’s rights to lease the Maritime project property to Convergence Compute

About Jet.AI

Jet.AI Inc. is a technology-driven company focused on deploying artificial intelligence tools and infrastructure to enhance decision-making, efficiency, and performance across complex systems. The Company is listed on the Capital Market of the Nasdaq Stock Market LLC under the ticker symbol "JTAI".

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. 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. 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.

Jet.AI Investor Relations:
Gateway Group, Inc.
949-574-3860
Jet.AI@gateway-grp.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What Milestone Three did Jet.AI (JTAI) and Consensus Core complete on March 16, 2026?

They completed Milestone Three for Convergence Compute’s Midwestern and Maritime campuses, covering power, supply, and property rights. According to the companies, milestones include a transmission study submission, natural gas supply confirmation for six turbines, an LOI for hydro/wind power, and a lease rights assignment.

How does the natural gas supply confirmation affect Convergence Compute’s Midwestern campus (JTAI)?

It secures fuel for onsite generation capacity supporting datacenter operations, confirmed for up to six turbines. According to the companies, this supply confirmation advances power availability planning and supports the Midwestern campus’ operational readiness.

What does the assignment of Consensus Core’s Maritime lease rights mean for Convergence Compute (JTAI)?

The assignment transfers Consensus Core’s rights to the Maritime project property to Convergence Compute, consolidating project control. According to the companies, this moves property rights and project oversight to the joint venture for development and operations.

What power arrangements were announced for the Maritime campus by Jet.AI (JTAI)?

Convergence Compute executed a letter of intent to acquire hydro power and proposed wind power for the Maritime campus. According to the companies, the LOI outlines intent to source renewable power but does not specify final commercial terms.

Did Convergence Compute file any regulatory studies for the Midwestern campus on March 16, 2026?

Yes, Convergence Compute submitted a Transmission Power Load Study Application for the Midwestern campus. According to the companies, this application is a formal step in assessing grid interconnection and required power capacity.

Will these milestones materially change Jet.AI’s (JTAI) datacenter development timeline?

The milestones advance key infrastructure and property steps but do not state revised timelines. According to the companies, completion of these milestones supports continued project development without providing specific schedule updates.