From AI Insider · James Dargan · · 2m
SOAR AI Secures $1B Equity for AI Infrastructure Expansion
SOAR AI's $1B equity facility funds Ohio campus growth and global AI infrastructure sites.
In brief
SOAR AI's $1B equity facility funds Ohio campus growth and global AI infrastructure sites. SOAR AI secured up to $1 billion in equity to expand its Ohio AI infrastructure campus from 154 MW to 480 MW capacity and develop additional global sites. Originally reported by AI Insider.
SOAR AI Rebrands as Volato Group
SOAR AI, formerly Volato Group, announced a $1 billion equity facility with an institutional investor to fund its Ohio AI infrastructure campus expansion.
Ohio Campus Capacity Details
The Ohio campus currently has 154 megawatts of power and plans to reach 480 megawatts through additional brownfield sites globally.
September Customer Orders
SOAR AI signed two four-year take-or-pay orders with a large AI customer for $1.17 billion in dedicated AMD GPU clusters, including $133 million in prepayments.
Equity Facility Terms
The facility allows SOAR AI to control draw timing and size, with sales capped at 10% of daily trading volume and no short selling by the investor.
Investor Ownership Limits
The investor may own no more than 4.99% of SOAR AI shares, with total issuances limited to 19.99% of shares outstanding under the facility.
Ohio Campus Development
SOAR AI is using existing industrial sites for its Ohio campus, which will provide AI infrastructure with high-density GPU compute and networking capabilities.
Global Expansion Strategy
SOAR AI plans to apply its Ohio campus model to additional brownfield sites in the United States and internationally for AI infrastructure.
Funding Model Details
The facility provides on-demand capital without warrants or large share issuances, supporting growth through customer prepayments and project financing.
CEO Commentary
CEO Chris Ensey stated the opportunity spans hundreds of megawatts across multiple sites, with the facility sized to support that growth timeline.
CFO Commentary
CFO Mark Heinen emphasized the terms minimize market impact by controlling draw timing, sales volume, and preventing short selling.
Name Change Timeline
SOAR AI's corporate name change from Volato Group is expected to take effect on October 19, 2026, subject to regulatory approval.
Forward-Looking Statements
The press release includes forward-looking statements about the company's growth plans, customer orders, and financial performance through 2026.
Investor Contact Details
Investor inquiries can be directed to investors@soarai.com, with media contacts at community@soarai.com.
What Happens Next
SOAR AI will use the facility to fund expansion of its Ohio campus and additional global AI infrastructure sites through 2027.
The headline
SOAR AI secured up to $1 billion in equity to expand its Ohio AI infrastructure campus from 154 MW to 480 MW capacity and develop additional global sites.
