Inside the Corvex–Movano merger: a bold pivot to GPU-driven AI infrastructure dominance

Movano Inc. (NASDAQ: MOVE) and Corvex Inc. have signed a definitive all-stock merger agreement that will see Corvex become a publicly traded company. The merger transforms Movano’s identity from a health-tech wearable maker into a secure artificial intelligence infrastructure company, purpose-built to serve the exploding demand for GPU inference and confidential computing. The combined entity will operate under the Corvex Inc. name and be headquartered in Arlington, Virginia.

Under the terms of the merger, each share of Movano common stock will be exchanged for roughly 0.038 of a share of Corvex, resulting in Corvex holders controlling nearly 96.2 percent of the combined entity while existing Movano shareholders will own about 3.8 percent. The transaction also includes a concurrent $40 million private placement, primarily to fund infrastructure build-out and operating liquidity. The companies expect the deal to close following standard approvals and the effectiveness of the Form S-4 registration statement with the U.S. Securities and Exchange Commission.

Corvex, which positions itself as a “pure-play secure AI infrastructure platform,” brings its proprietary Amplified AI Cloud and Inference-as-a-Service models into the public markets through this reverse merger. For Movano, whose core health-tech business faced liquidity pressure and compliance challenges, the combination provides an immediate strategic reset aligned with the hottest segment of the technology market.

How the merger positions Corvex to compete in the next phase of secure AI and GPU infrastructure growth

The AI infrastructure market has entered a capital-intensive phase, where the biggest constraint is not data but compute availability and data-sovereign security. Corvex’s technology framework is centered on building AI factories that combine high-density GPU clusters with confidential computing and secure inference pipelines. Its Amplified AI Cloud architecture aims to deliver secure, high-throughput inference processing for enterprise and government workloads, a segment currently dominated by hyperscale players such as NVIDIA Corporation, Amazon Web Services, and Microsoft Corporation.

Corvex’s decision to merge with Movano instead of pursuing a traditional IPO underscores a growing trend among AI hardware and infrastructure players seeking rapid access to public capital markets. This path circumvents the volatility and disclosure demands of a conventional listing while immediately offering liquidity to institutional investors.

For Movano, this deal represents a rebranding of purpose. Once known for its smart rings and health monitoring systems, Movano struggled to scale amid tightening regulatory costs and slowing wearable sales. The merger effectively converts its Nasdaq listing into a gateway for Corvex’s next-generation compute ambitions, allowing it to raise capital under a technology-forward narrative.

Why the transaction structure and valuation terms reflect both opportunity and risk for investors

The structure of this transaction is unusually asymmetric, reflecting Corvex’s dominance in both value contribution and future growth prospects. Corvex shareholders will own the overwhelming majority of the merged company, signaling that Movano is essentially acting as the listing vehicle rather than an equal partner.

As disclosed, the merger includes a multi-tiered earn-out mechanism that grants Corvex stakeholders additional shares if post-closing stock prices meet or exceed $15 and subsequently $25 within defined performance periods. This incentive structure is designed to reward long-term value creation but also raises dilution concerns if the company’s shares rally sharply in early trading.

The concurrent $40 million capital raise — about $37.1 million of which will go directly to Corvex — offers operational runway to scale GPU clusters and secure data centers. However, analysts caution that the cost of deploying high-performance inference infrastructure remains significant, and success will depend on execution efficiency, energy management, and customer adoption.

Following the merger announcement, Movano’s stock spiked sharply, climbing over 150 percent intraday and closing near $14.46, with trading volumes surpassing 22 million shares. The surge reflects speculative enthusiasm for the AI infrastructure pivot rather than any change in Movano’s legacy fundamentals. Short-term sentiment appears overwhelmingly bullish, but market participants remain cautious about post-merger integration and the timing of infrastructure deployment.

How the combined company plans to leverage AI inference demand to create a differentiated market position

The strategic rationale behind the merger hinges on the rising demand for secure inference — the process of running AI models in protected, high-efficiency compute environments. Corvex’s Amplified AI Cloud is engineered to enable scalable inference-as-a-service, offering enterprises the ability to deploy AI models without compromising data security or sovereignty.

With cloud computing shifting toward specialized GPU hosting and low-latency AI workloads, Corvex sees an opportunity to differentiate itself through vertical integration and hardware-software co-optimization. The company’s infrastructure strategy reportedly includes partnerships for power-dense colocation, advanced cooling, and high-bandwidth interconnects optimized for inference speed and cost efficiency.

From a macro-trend perspective, this merger aligns with the ongoing “AI factory” movement — where purpose-built data centers operate as industrial engines for training and inference. By going public, Corvex gains the balance-sheet visibility and investor base needed to pursue large-scale deployments and potentially attract enterprise and government contracts that demand auditable, U.S.-based secure compute.

What investor sentiment and market behavior reveal about confidence in AI infrastructure plays

The short-term rally in Movano shares mirrors broader speculative enthusiasm seen across the AI ecosystem since late 2024, with public investors chasing exposure to anything tied to compute capacity or AI model scaling. However, institutional sentiment is more nuanced. Analysts view Corvex’s entry into the public markets as a validation of the AI infrastructure narrative, but they emphasize the need for revenue clarity, cost discipline, and customer proof points before re-rating the company alongside established players.

Given the capital intensity of GPU-as-a-service models, investors are likely to focus on gross margin visibility, utilization rates of GPU clusters, and the pace at which Corvex converts infrastructure investment into recurring inference revenue. Market confidence will depend on whether Corvex can demonstrate differentiated economics — such as faster inference times or lower cost per token — relative to competitors offering similar secure compute capabilities.

Meanwhile, Movano’s legacy shareholders face an almost complete dilution of influence. The 3.8 percent ownership stake leaves little leverage for the prior investor base, although they may benefit indirectly from share-price appreciation if Corvex’s AI narrative gains traction.

What the next year could reveal about Corvex’s ability to execute its high-performance AI strategy

Over the next 12 months, the new Corvex Inc. will be judged by how effectively it deploys its freshly raised capital and executes on its infrastructure roadmap. Investors should expect detailed disclosures on GPU cluster expansion, data-center partnerships, and revenue visibility in the inference-as-a-service segment.

Management has indicated that its initial focus will be on government and defense contracts that demand verified data security, alongside enterprise workloads requiring compliance with emerging AI safety and privacy frameworks. Success in these sectors could establish Corvex as one of the first publicly traded “secure inference” platforms.

However, the road ahead remains competitive. NVIDIA, Amazon, and Microsoft continue to expand their own GPU-as-a-Service offerings, while startups such as CoreWeave, Lambda, and Crusoe Cloud are racing to capture hyperscale inference demand. To stand out, Corvex must deliver measurable differentiation in throughput, power efficiency, and security certifications.

If executed effectively, this merger could mark one of the first major public-market consolidations in the secure AI infrastructure space — signaling that the next wave of AI value creation may occur not just in model innovation but in the physical backbone that powers it. Beyond its technical roadmap, Corvex’s ability to attract hyperscale and sovereign clients will define its valuation trajectory. Investors will watch closely whether the company can achieve operational proof through commercial GPU utilization rates and consistent inference revenues, which would validate its strategy as more than a narrative-driven rebranding. Should Corvex deliver measurable performance metrics and maintain fiscal discipline, it could emerge as one of the most credible next-generation infrastructure entrants on the Nasdaq, bridging Wall Street’s appetite for AI exposure with Main Street’s growing demand for data-secure compute.