Movano Stock Surges 178% After Announcing Merger With AI Cloud Firm Corvex

• The combined entity aims to compete in the high-performance cloud and GPU infrastructure market.
• Upon closing, Corvex shareholders will hold roughly 96.2% of the combined company, while Movano shareholders will own about 3.8%.
• The merger is expected to close in the first quarter of 2026.

Movano Inc. (MOVE) and Corvex Inc., a U.S.-based artificial intelligence (AI) cloud infrastructure firm, announced on Monday plans to merge in an all-stock transaction that will create a new publicly traded company positioned to capitalize on the increased demand for large-scale AI computing. 

The combined entity aims to compete in the high-performance cloud and GPU infrastructure market as AI workloads surge globally.

Following the update, Movano’s stock traded over 178% higher on Monday, after the morning bell. On Stocktwits, retail sentiment around the stock improved to ‘extremely bullish’ from ‘bullish’ territory the previous day. Message volume jumped to 'extremely high’' from ‘low’ levels in 24 hours.

Transaction Details and Capital Structure

Under the merger terms, the transaction values Movano shares at $6.25 each. Corvex and Movano have raised about $40 million in private placement financing to support the deal. 

Upon closing, Corvex shareholders will hold roughly 96.2% of the combined company, while Movano shareholders will own about 3.8%. The firms expect approximately 48.7 million shares to be outstanding following completion.

What Does Corvex Do? 

Corvex operates an AI-focused data infrastructure, offering GPU clusters, high-speed storage, and confidential computing environments designed to secure customer data while boosting model training and inference performance. 

The combined company will operate under the Corvex name and be headquartered in Arlington, Virginia, led by Corvex co-founders Seth Demsey and Jay Crystal as co-chief executive officers. The merger has been approved by the boards of both companies and is expected to close in the first quarter of 2026.

MOVE stock has lost over 91% of its value year-to-date and more than 88% in the past 12 months. 

Also See: Datavault AI Takes Wolfpack Research To Court: Retail Traders Rally Behind It

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