Corvex Announces Closing of All-Stock Merger

Movano Inc. to be renamed Corvex, Inc. and continue to trade on Nasdaq under the symbol "MOVE"

Mar. 19, 2026 at 12:54pm

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Corvex, Inc., an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads, today announced the completion of an all-stock merger with Movano Inc. The combined company will be renamed Corvex, Inc. and continue to trade on Nasdaq under the ticker symbol "MOVE". The merger marks Corvex's plan to enter the public markets and underscores its emerging leadership in addressing the challenges of the AI era through its Amplified AI Cloud platform.

Why it matters

The merger positions Corvex as a key player in the growing demand for reliable and secure AI computing infrastructure as global demand for AI accelerates. The combined company aims to provide differentiated exposure to the infrastructure layer powering AI innovators.

The details

Pursuant to the merger agreement, Movano issued shares of Series B, C, and D Convertible Preferred Stock to Corvex securityholders. The Series B Preferred Stock will automatically convert to common stock, while the conversion of the Series C and D Preferred Stock remains subject to shareholder approval. The combined company will be led by Jay Crystal and Seth Demsey as Co-CEOs, Co-Founders, and Directors.

  • The 2026 Stockholders' Meeting to approve the merger will be held in May 2026.
  • The Series B Preferred Stock will automatically convert to common stock on March 31, 2026.
  • The Company expects to hold the 2026 Stockholders' Meeting no later than May 31, 2026.

The players

Corvex, Inc.

An AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads.

Movano Inc.

The company that will be renamed Corvex, Inc. after the merger.

Jay Crystal

Co-Chief Executive Officer, Co-Founder and Director of the combined company.

Seth Demsey

Co-Chief Executive Officer, Co-Founder and Director of the combined company.

Emily Wang Fairbairn

Director of the combined company.

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What’s next

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The takeaway

This merger solidifies Corvex's position as a leading provider of secure and scalable AI infrastructure, positioning the combined company to capitalize on the growing demand for reliable AI computing resources.