Movano shares surge 174.29% intraday after all-stock merger with Corvex to create AI infrastructure pure play.

Movano Inc. (NASDAQ: MOVE) surged 174.29% intraday following the announcement of a definitive all-stock merger with Corvex, an AI cloud computing firm. The transaction, valuing Movano shares at $6.25 per share, restructures the combined entity—renamed "Corvex, Inc."—to focus on AI infrastructure, leveraging Corvex’s Amplified AI Cloud platform. The merger, supported by $40 million in concurrent private financing, positions Movano shareholders for exposure to AI infrastructure demand and Corvex’s GPU-accelerated services. Corvex shareholders will own 96.2% of the combined company post-merger, while Movano shareholders retain 3.8%. The strategic combination underscores growth potential in AI workloads and secure computing, aligning with heightened market enthusiasm for AI infrastructure. The merger is expected to close in Q1 2026, subject to approvals.