Movano Inc (NASDAQ:MOVE) experienced a remarkable 73.6% increase in its stock price during after-hours trading on Thursday. This surge followed Corvex, Inc., the company with which Movano has agreed to merge, announcing a pivotal long-term GPU leasing contract with a provider specializing in AI-powered battery technology.
The lease arrangement entails the deployment of an exclusive cluster of NVIDIA H200 GPUs aimed at facilitating the client's AI research and development efforts. The customer chose Corvex specifically for its "superior overall value" and operations comparable to hyperscalers, setting it apart from other providers of AI infrastructure.
Corvex's offering features GPU clusters optimized for maximum computational density, designed to remain adaptable to fluctuations in peak demand. Additionally, the company provides a secure, managed on-premises infrastructure, incorporating hardware-enforced encryption to ensure adherence to stringent data sovereignty and regulatory compliance standards.
According to Jay Crystal, Co-Chief Executive Officer of Corvex, this deployment exemplifies how cutting-edge AI developers are scaling production without compromising economic considerations, market accessibility, or operational speed.
Co-CEO Seth Demsey further highlighted that the deal reflects an increasing appetite among AI model developers and advanced enterprises for GPU infrastructures that provide both security and ease of use, while also being more cost-effective than previous options.
This development follows the announcement on November 10, 2025, of the definitive all-stock merger agreement between Movano and Corvex, which aims to combine their strengths, with Corvex focusing on GPU-accelerated solutions tailored for AI workloads.