Movano shares surge 154.72% intraday after announcing all-stock merger with Corvex to create AI infrastructure firm.

Movano Inc. surged 154.72% intraday following the announcement of a definitive all-stock merger with Corvex, an AI cloud computing company. The transaction, valued at $6.25 per Movano share, restructures the combined entity as "Corvex, Inc.," positioning it to capitalize on AI infrastructure demand. Corvex shareholders will own 96.2% of the new company, while Movano shareholders retain 3.8%, supported by $40 million in concurrent financing. The merger, approved by both boards, is expected to close in Q1 2026, with Movano resuming sales of its medical device operations. The stock's dramatic rise reflects investor optimism about the strategic alignment with AI-driven cloud computing and the perceived undervaluation of Movano's shares at $6.25, contrasting with its recent 52-week low of $4.67.