Pardoned Nikola founder Trevor Milton is trying to raise $1B for AI-powered planes

Nearly a year after receiving a presidential pardon, Trevor Milton, founder of the now-defunct electric truck company Nikola, is embarking on a new venture to develop autonomous, AI-powered aircraft. Milton and an investment group acquired SyberJet Aircraft, a struggling aviation firm, late last year and have been working to revitalize it by recruiting former Nikola employees, courting investors from Saudi Arabia, and investing in lobbying efforts. His vision includes designing a novel avionics system aimed at creating the first light jet centered on artificial intelligence-driven flight, potentially opening opportunities for defense contracts. Despite his ambitious plans, Milton acknowledges the significant challenges ahead, stating that developing AI-powered planes will be "10 times harder than Nikola ever was." This new project marks a notable shift from electric trucks to aviation, with Milton seeking to raise $1 billion to fund the development and transformation of SyberJet into a leader in autonomous flight technology.