Movano shares surge 13.43% after-hours after announcing all-stock merger with Corvex to create AI infrastructure pure play.

Movano Inc. surged 13.43% in after-hours trading following the announcement of a definitive all-stock merger with Corvex, an AI cloud infrastructure firm. The strategic combination positions the combined entity to capitalize on rising demand for secure, high-performance AI computing, with Corvex shareholders set to own 96.2% of the new company. The transaction, which includes $40 million in concurrent private financing, values Movano shares at $6.25 each and restructures the company as a pure-play AI infrastructure platform. The merger, expected to close in Q1 2026, highlights Corvex’s Amplified AI Cloud platform addressing scale, efficiency, and security challenges in AI workloads. Movano shareholders gain exposure to Corvex’s GPU-accelerated infrastructure and leadership with proven expertise in large-scale computing. The deal also allows Movano to pursue the sale of its medical device assets, including the FDA-cleared EvieMED Ring, further aligning with investor optimism around the AI infrastructure sector.