Movano shares surge 254.30% intraday after all-stock merger with Corvex creates AI infrastructure pure play.

Movano Inc. surged 254.30% intraday after announcing a definitive agreement to merge with Corvex, an AI cloud computing company, in an all-stock transaction. The strategic combination positions the combined entity as a pure-play AI infrastructure platform, with Movano shareholders gaining exposure to Corvex’s GPU-accelerated infrastructure and Amplified AI CloudTM technology. The merger values Movano shares at $6.25 each, with Corvex shareholders receiving 46.6 million shares post-merger. The deal, expected to close in Q1 2026, includes $40 million in concurrent financings and highlights Corvex’s leadership in secure, scalable AI computing. The merger’s emphasis on addressing AI’s "scale, efficiency, and security" challenges, along with Movano’s pivot to AI infrastructure, drove immediate investor optimism, reflected in the stock’s intraday spike.