Movano and Corvex announce all-stock merger to form secure AI infrastructure platform

Reuters11-10

Movano and Corvex announce all-stock merger to form secure AI infrastructure platform

Movano Inc. and Corvex, Inc., an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads, have entered into a definitive agreement to combine both companies in an all-stock transaction. The combined company aims to create a pure-play platform for secure AI infrastructure and high-performance inference, leveraging Corvex's Amplified AI Cloud platform to address the growing demand for scalable, efficient, and secure AI computing. As part of the transaction, Corvex shareholders will receive 46.6 million shares of Movano stock, reflecting the merger exchange ratio based on a Movano per share value of $6.25. Concurrent private placement financings raised an aggregate of $40 million. Following the merger, Movano Health will continue efforts to market its medical device operations, including the FDA-cleared EvieMED Ring and proprietary technologies for cuffless blood pressure and noninvasive glucose monitoring.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Movano Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: SF19840) on November 10, 2025, and is solely responsible for the information contained therein.

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