Corvex, Inc.

Snapshot

Corvex just pivoted from a wearable-health company (Movano) into AI data centers, and the numbers reflect a business still being built. FY 2025 revenue was only $433K, with a $18.3 million net loss and negative gross margin.

What's Happening Right Now

• Mon 31st Aug '26 · Expansion: On Aug 31, 2026, Corvex announced plans to grow its data center power capacity fivefold to about 8 MW by year-end 2026, funded by a $33 million private placement.
• Fri 14th Aug '26 · Earnings: Corvex's Q2 2026 report (Aug 14, 2026) showed $3.8 million in revenue, a $12.8 million net loss driven partly by merger-related stock compensation, and $21.7 million in cash.
• Tue 4th Aug '26 · Contract: On Aug 4, 2026, Corvex signed a multi-year deal to supply NVIDIA Blackwell GPUs and networking to an AI customer, funded by debt and prepayments rather than new equity.
• Sun 2nd Aug '26 · Dilution/Filing: An Aug 2, 2026 prospectus filing revealed a resale registration covering about 94% of shares outstanding from preferred stock conversions, and disclosed a going-concern warning from auditors alongside the 2025 net loss.
• Tue 16th Jun '26 · CFO hire: On June 16, 2026, Corvex appointed Chance Moreland, a former Morgan Stanley finance executive, as CFO to lead capital-raising efforts for its infrastructure buildout.