- EVTV will own the ASIC systems and maintain lease rights to containerized power infrastructure.
- Azio AI will oversee hardware integration and optimization.
- Systems to be deployed in EVTV’s liquid-immersion-cooled modular container platform, the company said.
Shares of Envirotech Vehicles (EVTV) climbed 3% on Friday after Azio AI Corp. announced that it had received its first purchase order from EVTV for 28 next-generation Application-Specific Integrated Circuit (ASIC) compute systems.
Under the agreement, EVTV will own the ASIC systems and maintain lease rights to the containerized power infrastructure, while Azio AI will oversee hardware integration and optimization. The systems will be deployed in EVTV’s liquid-immersion-cooled modular container platform.
The deployment will test power efficiency, cooling performance, uptime, and compute economics under continuous workloads. Azio added that the initial payment has been received in full, with delivery expected in the coming weeks.
AZIO Acquisition Update
Envirotech reaffirmed its progress toward strategic alignment with AZIO AI. The companies signed an amended non-binding letter of intent under which EVTV would acquire AZIO AI through a merger, making it a wholly owned subsidiary. The proposed deal, which values AZIO AI at $480 million, remains subject to due diligence, regulatory approvals, and shareholder approval.
Envirotech Vehicles also updated shareholders on a Nasdaq compliance issue, stating it is procedural and tied to completing routine annual proxy requirements. The company said the matter does not affect its operations or financial performance.
Earlier this month, Envirotech announced a major step forward in its modular data and power infrastructure initiative with AZIO AI, following an on-site engineering review that moved the project from planning to execution.
How Did Stocktwits Users React?
Retail sentiment for EVTV on Stocktwits flipped to ‘bullish’ from ‘bearish’ a day earlier.
One bullish user noted that EVTV’s container platform can run real high-density computing.
Another user noted that the company was serious about building out their modular infrastructure.
Year-to-date, the stock has gained over 400%.
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