Eric Trump Backs $1.5B ‘Low Cost-Per-Kill’ Drone Maker Going Public
Eric Trump is plunging deeper into defense tech, backing a $1.5 billion deal to take an Israeli drone maker public as military demand for unmanned systems surges. According to Reuters and the Wall Street Journal, the president’s son has agreed to invest in a merger between XTEND, a drone manufacturer, and Florida-based JFB Construction Holdings that will list the new business on Nasdaq.
The deal sets the stage for XTEND to become XTEND AI Robotics under the ticker “XTND” and is targeted to close by mid-2026, positioning the firm for expanded U.S. and allied military contracts. The move comes as Pentagon spending on drone and autonomous systems accelerates.
XTEND builds AI-guided drones used in mapping, reconnaissance, and combat roles, with some products described in industry reporting as having “low cost-per-kill” capability, drawing Wall Street interest. The firm has also secured a multimillion-dollar Pentagon contract and is part of competitive defense procurement programs.
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Unusual Machines, a separate drone startup where Donald Trump Jr. serves as an adviser and investor, is also backing the transaction, tying multiple members of the Trump family to the broader defense tech expansion.
“This merger gives XTEND the manufacturing scale and capital access it needs to compete in global defense markets,” a company executive said in regulatory filings.
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The Trump family’s growing portfolio in defense sectors has already triggered questions about conflicts of interest, especially as these technologies align with Pentagon priorities and funding decisions. Analysts note that U.S. defense spending in unmanned systems markets has become a major battleground for private investors.
Investors will be watching how the XTND stock performs upon listing and whether regulatory or ethics watchdogs press for clearer financial disclosures. The merger’s completion and fiscal performance will be key milestones in the company’s trajectory and the Trump family’s business narrative.
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