Volato Group, Inc. (AMEX:SOAR), an AI software company, shares more than doubled Wednesday after signing a definitive agreement to merge with Alignment Engine, Inc., pivoting Volato toward AI infrastructure.
Earlier, the stock jumped 93.98% to $0.30 in premarket trading, giving Volato a market capitalization of about $8.3 million.
The rally sharply outpaced the Industrials sector’s roughly 1.2% gain, while the S&P 500 slipped 0.1%.
$500 Million Deal Targets AI Infrastructure
The definitive agreement values Alignment Engine at approximately $500 million and will reposition Volato around AI infrastructure, high-performance computing and data center development.
