On March 19, 2026, Corvex, Inc., formerly Movano Inc., completed its acquisition of Corvex Legacy Holdings, Inc. The estimated purchase price was $581,955 thousand, recorded as Payment Shares and replacement equity awards. The transaction generated $519,318 thousand in goodwill and identified intangible assets including customer relationships valued at $5,190 thousand and trade names at $10,210 thousand. Pro forma financial statements for the six months ended June 30, 2026, show combined revenue of $4,312 thousand and a net loss attributable to common stockholders of $26,310 thousand. For the year ended December 31, 2025, pro forma revenue was $7,535 thousand with a net loss of $67,546 thousand. The company operates in the technology and healthcare sectors.

Corvex, Inc. entered into a Securities Purchase Agreement on August 31, 2026, for a private placement closing September 2, 2026. The company issued 3,904,970 shares of common stock at $7.75 per share and 353.098 shares of Series D Non-Voting Convertible Preferred Stock at $7,750.00 per share, generating approximately $33 million in gross proceeds. These funds will finance a data center expansion increasing critical IT capacity from 1.5 MW to 8 MW by year-end 2026 and support the development of its AI cloud platform. Corvex operates as an engineering-led AI computing platform specializing in secure, GPU-accelerated infrastructure for artificial intelligence workloads.

Corvex, Inc. reported financial results for the second quarter ended June 30, 2026, its first full reporting period following a March merger that shifted its focus to AI cloud computing. Total revenue reached $3.8 million, while deferred revenue surged to $3.7 million from $12,000 at year-end, reflecting contracted AI compute capacity. The company reported a net loss of $12.8 million, or $5.12 per share, driven by $9.4 million in stock-based compensation and operating expenses of $19 million. Cash and cash equivalents stood at $21.7 million. Contracted annualized recurring revenue on live compute was approximately $22 million as of August 14, 2026. The company also simplified its capital structure by converting preferred shares to common stock and appointed new leadership including CFO Chance Moreland. Corvex operates in the AI infrastructure industry, providing GPU-accelerated cloud computing platforms for artificial intelligence workloads.

Corvex, Inc. appointed Seth Demsey as co-Chief Executive Officer on July 1, 2026, to serve alongside Jay Crystal. Stockholders approved the 2026 Equity Incentive Plan and the 2026 Employee Stock Purchase Plan. The company increased authorized shares of Series D Preferred Stock to 50,000 shares and, on July 7, 2026, converted all Series C Preferred Stock and 4,752,244 shares of common stock from Series D Preferred Stock into common stock. Corvex operates in the AI computing infrastructure industry, providing high-performance AI computing at scale.

Corvex, Inc. announced the appointment of Chance Moreland as Chief Financial Officer, effective June 29, 2026. Mr. Moreland, formerly a Managing Director at Morgan Stanley, joins the following compensation package including a $425,000 annual base salary, a target performance bonus of up to 100% of base salary, and equity awards consisting of 523,211 restricted stock units and 523,211 performance stock units. Corvex, Inc. operates in the financial services sector through its investment management activities.