On February 17, 2026, Israeli AI drone maker Xtend announced a reverse merger with JFB Construction Holdings (a small Florida building firm with hotel and escape-room facilities) to list on Nasdaq at a $1.5 billion valuation. The deal included a $152 million strategic investment round backed by several investors including Eric Trump. Unusual Machines — the drone company where Donald Trump Jr. sits on the advisory board — also invested, deepening the Trump family's interlocking drone portfolio.
Xtend develops AI-powered autonomous drone systems and the XOS operating system enabling swarm coordination and autonomous target classification. The company has active DoD Special Operations contracts, has deployed over 10,000 systems across 32+ countries, and is integrated into Lockheed Martin Skunk Works' JADC2 architecture. U.S. manufacturing is based in Tampa, near SOCOM headquarters.
The investment came exactly 11 days before U.S. and Israeli forces launched Operation Epic Fury against Iran on February 28, 2026 — a conflict that would dramatically increase demand for exactly the autonomous drone systems Xtend produces. The reverse merger structure (going public through a Florida construction firm rather than traditional IPO) mirrors the Powerus/Aureus Greenway merger strategy, avoiding the transparency requirements of conventional public listings.
The combined entity will trade on Nasdaq as XTEND AI Robotics under ticker "XTND." The transaction further extends the Trump family drone supply chain: Trump Jr.'s 1789 Capital backs Anduril and Vulcan Elements, Trump Jr. sits on Unusual Machines' board, Eric Trump invested in Xtend, and both brothers back Powerus — creating vertical integration from rare-earth magnets to AI weapons systems, all while their father commands the military purchasing these systems.