Movano shares surge 291.82% intraday after merger with Corvex creates AI infrastructure pure play.

Movano Inc. surged 291.82% intraday after announcing a definitive all-stock merger with AI cloud computing firm Corvex, creating a pure-play AI infrastructure platform. The merger values Movano shares at $6.25 each—well above its pre-announcement price of $4.77—while Corvex shareholders will own 96.2% of the combined entity. The strategic combination taps into growing demand for secure, high-performance AI infrastructure, with Corvex’s GPU-accelerated services and Movano’s capital-raising (via $40 million in concurrent financings) positioning the firm for scalability. Movano shareholders gain exposure to Corvex’s Amplified AI Cloud platform, addressing AI-era challenges of scale, efficiency, and security. The transaction, expected to close in Q1 2026, also allows Movano to market its FDA-cleared EvieMED Ring and mmWave RF technology, adding potential revenue streams. The merger’s premium valuation and alignment with AI infrastructure tailwinds directly drove the intraday rally.