Envirotech Vehicles shares surge 35.86% after-hours as merger partner Azio AI secures $107M U.S. government contract.

Envirotech Vehicles (EVTV) surged 35.86% in after-hours trading following the announcement that its merger partner, AZIO AI, secured a $107 million U.S. government contract and an amended $480 million acquisition deal. AZIO AI’s recent binding purchase order for 256 Nvidia B300 GPUs and a 30% deposit expected soon signaled strong execution capability in public-sector projects. The revised merger terms, valuing AZIO AI at $480 million via a $3.00 reference price for EVTV shares, along with strategic investor backing, reinforced optimism about Envirotech’s AI infrastructure expansion. The stock’s prior gains (up 227.14% during the day) and merger-related momentum further amplified the after-hours rally, reflecting investor confidence in the combined entity’s growth potential in the AI sector.