Israeli Robotics Firm Xtend AI Robotics Lists on NYSE, Valued at $1.5 Billion

Israeli robotics company Xtend AI Robotics has successfully merged and begun trading on the New York Stock Exchange, achieving a valuation of $1.5 billion. The company's stock saw a significant jump of approximately 25% on its first day of trading. Xtend, founded in 2018 by Aviv and Mateo Shapira, Adir Tobi, and Rubi Liani, specializes in what it terms "Physical AI," aiming to enhance human capabilities through robotics for life-saving applications in security, law enforcement, and defense.

While known for its drone technology, utilized by both the Israel Defense Forces (IDF) and the U.S. Department of Defense, Xtend emphasizes its focus on software and operating systems rather than the hardware itself. CEO Aviv Shapira highlighted the company's ability to drastically reduce training time for its systems from weeks to minutes, allowing operation from anywhere globally. Xtend is positioning itself as the "Android of the robotics world," opening its platform for third-party developers to create applications, akin to the smartphone ecosystem.

Originally conceived as a VR company with a focus on sports and immersive experiences, Xtend pivoted to defense applications in 2019 in response to security challenges like incendiary balloons launched from Gaza. The company's experience in real-world combat and rescue operations, including recent missions following rocket attacks from Iran and earthquake relief in Venezuela, provides it with extensive, diverse operational knowledge. Xtend operates globally with subsidiaries in the U.S., UK, and Singapore, and its U.S. listing was facilitated by a reverse merger with JFB, a construction firm, which also helped establish a significant U.S. manufacturing presence.

Financially, Xtend reported $19.7 million in revenue for 2025, with a net loss of $26.8 million. The first quarter of 2026 showed a substantial revenue increase to $5.8 million, though losses continued. The company projects significant growth, aiming for an average annual increase of 110.5% to reach $85.6 million in revenue in 2026 and approximately $382 million by 2028, with a target of achieving positive EBITDA by 2028. Future plans include acquisitions in maritime, ground, and fixed-wing drone sectors, with a vision to enable collaborative missions among its users.