Movano shares surge 313.83% intraday after merger with Corvex creates AI infrastructure pure-play.

Movano Inc. surged 313.83% intraday after announcing a definitive agreement to merge with Corvex, an AI cloud computing company, in an all-stock transaction. The merger, valuing Movano shares at $6.25 each, creates a combined entity focused on secure AI infrastructure and high-performance computing. Corvex shareholders will receive 46.6 million Movano shares, with the new company led by Corvex’s experienced management team. The strategic combination positions the firm to capitalize on growing demand for AI infrastructure, offering services like GPU-accelerated computing, confidential computing, and inference-as-a-service. The deal, expected to close in Q1 2026, was unanimously approved by both boards and supported by $40 million in concurrent financing. The merger transforms Movano into an AI infrastructure pure play, aligning with market enthusiasm for AI-driven growth opportunities.