As a generalization of the ring spectrum of topological modular forms, we construct a graded ring spectrum of topological Jacobi forms, $\operatorname{TJF}_*$. This is constructed as the global sections of a sheaf of $E_\infty$-ring spectra on the stacky universal elliptic curve using circle-equivariant $\operatorname{TMF}$. Complete calculations of its homotopy at odd primes and partial results at $p=2$ are given.