Movano shares surge 218.24% intraday as merger with Corvex creates AI infrastructure pure play.

Movano Inc. (NASDAQ: MOVE) surged 218.24% intraday following the announcement of a definitive all-stock merger with Corvex, an AI cloud computing company. The strategic combination positions the combined entity to capitalize on growing demand for AI infrastructure at scale, with Movano shareholders gaining exposure to Corvex’s Amplified AI Cloud platform. Key terms include a $6.25 per share valuation for Movano and a post-merger ownership structure where Corvex shareholders will hold 96.2% of the new company. The merger, expected to close in Q1 2026, includes $40 million in concurrent private financing and underscores Corvex’s entry into the public markets. The transaction aligns with the stock’s dramatic rise, driven by optimism over the AI infrastructure sector and the combined company’s potential to address scalability, efficiency, and security challenges in AI workloads.