Corvex, Inc. reports developments in AI cloud computing and GPU-accelerated infrastructure for artificial intelligence workloads. Company news has centered on secure compute clusters, high-throughput storage, managed Kubernetes architecture, confidential computing for data in use, and Secure Model Weights for protected AI inference on third-party GPU infrastructure.
Updates also cover customer deployments, long-term GPU infrastructure arrangements, earnings calls, operating and financial results, and capital-structure actions. Corvex became the public company operating under MOVE after the completed combination with Corvex Legacy Holdings and the name change from Movano Inc. in March 2026.
Corvex (MOVE) reported third-quarter 2026 revenue of $4.982 million in its first full reporting period after transferring its legacy healthcare assets. Revenue rose 31% from the second quarter. Net loss attributable to common stockholders was $17.519 million, or $0.60 per share, and adjusted EBITDA, a non-GAAP earnings measure, was negative $3.242 million. Cash was $41.986 million at September 30.
Live compute supported approximately $21.7 million in contracted annualized revenue as of November 12, a contractual metric rather than a forecast. Corvex secured approximately 8 MW of planned capacity, with 1.5 MW live; it expects the remaining capacity ready for service in the fourth quarter. September's private placement raised approximately $33 million gross. A subsidiary borrowed $7.5 million for GPU servers. Prior-year results reflect only the legacy healthcare business and are not directly comparable.
Corvex (MOVE) will report its third quarter 2026 financial results before the market opens on November 12, 2026. Management will host a conference call and live webcast at 8:30 a.m. ET / 5:30 a.m. PT that day to discuss results and provide a business update. Prepared remarks will be followed by a question-and-answer session, with a webcast replay available afterward on the investor relations website.
Corvex (MOVE) launched Corvex Token Factory, a platform that lets developers and enterprises access open-weight AI models through an API. Customers do not need to deploy or operate GPU clusters. Initial models include GLM 5.3 from Z.ai and DeepSeek V4 Flash 0731.
Zero data retention is the default: prompts and responses are processed in memory, not stored or used for training. Corvex retains limited operational metadata that excludes prompt and response content. Requests run on Corvex-managed hardware without routing to third-party inference providers or model developers. Customers pay for input and output tokens used, without idle GPU charges. Feature compatibility varies by client and model.
Corvex (Nasdaq: MOVE) announced a major expansion of its AI data center footprint, planning to increase critical IT power capacity from approximately 1.5 MW to about 8 MW by year-end 2026 across its Mid-Atlantic site and a new Midwest deployment, both targeted to be ready for service in Q4 2026. The company expects to support about 3,000 latest-generation GPUs and anticipates revenue from these expansions beginning in Q1 2027.
Corvex also secured a right of first refusal on 12.5 MW of additional Midwest capacity, which could lift total critical IT power to more than 20 MW, subject to multiple conditions. A $33 million PIPE financing of common and Series D preferred stock at $7.75 per as-converted share is expected to raise pro forma cash to approximately $55 million and fund the build-out plus development of its Token Factory and Assured AI platforms.
Corvex (Nasdaq: MOVE) announced the appointment of Garrett Brams to lead its data center sourcing and development strategy, supporting the company’s expanding AI Factory platform. Brams will oversee sourcing, evaluation, leasing, and development of mission-critical data center projects to secure strategic sites and power for GPU-accelerated AI infrastructure.
He joins Corvex from Cushman & Wakefield, where he was Managing Director advising on complex, capital-intensive infrastructure projects across their full lifecycle. Corvex said his appointment targets three key constraints for AI deployments: access to sites, access to power, and early visibility into new supply.
Corvex (Nasdaq: MOVE) reported second quarter 2026 revenue of $3.8 million, its first full period including the AI cloud computing business after the March 19, 2026 merger. For the first half of 2026, revenue was $4.3 million. Net loss attributable to common stockholders was $(12.8) million in Q2, or $(5.12) per share, and $(17.9) million for the six months. Adjusted EBITDA was $(3.2) million in Q2. Deferred revenue rose to $3.7 million at June 30, 2026, reflecting contracted AI compute not yet recognized.
Corvex reported contracted annualized revenue on live compute of approximately $22 million as of August 14, 2026. Cash and cash equivalents were $21.7 million at quarter end. The company extinguished its related-party Bridge Loan by transferring legacy healthcare assets, recognizing a $2.5 million non‑cash gain, and simplified its capital structure through preferred stock conversions in early July.
Corvex (Nasdaq: MOVE) announced it will host its second quarter 2026 earnings conference call and live audio webcast on Friday, August 14, 2026 at 4:30 p.m. ET / 1:30 p.m. PT. Management will deliver prepared remarks, provide a business update, and offer a replay via the Corvex Investor Relations website.
Corvex (Nasdaq: MOVE) announced a multi-year agreement to provide clusters of NVIDIA Blackwell GPUs, connected with NVIDIA Quantum-2 InfiniBand networking, to a leading AI company. The deal expands an earlier customer commitment and also includes dedicated high-speed storage and CPUs.
Operating inside an existing air-cooled facility, Corvex installed and commissioned high-density, liquid-cooled NVIDIA HGX B200 capacity in about two weeks after equipment arrival, avoiding a facility rebuild or relocation. According to Corvex, expansion is funded through debt financing, customer pre-payment, and cash on hand, without issuing additional equity. Revenue is being recognized over 2026 as portions of the cluster are delivered, with full run-rate revenue starting midway through the current quarter.
Corvex (Nasdaq: MOVE) appointed AI infrastructure veteran Michael Craig as Vice President of Architecture and Site Operations, effective July 15, 2026. He will lead cluster architecture and site operations for Corvex's AI Factory business, coordinating technical, physical and supply-chain requirements for high-density GPU infrastructure.
Craig brings over 25 years of experience from Crusoe, Supermicro, Compaq, Hewlett-Packard and Hewlett Packard Enterprise, including building global site operations, leading GPU procurement strategies and delivering TOP500-ranked supercomputers. Corvex said his appointment supports scaling its secure, high-performance AI compute platform amid growing demand.
Corvex (Nasdaq: MOVE) reported 2026 annual meeting results, with stockholders approving all proposals. Actions included disposing of legacy Movano healthcare assets to a lender in satisfaction of secured debt, electing three new directors, and appointing Seth Demsey as co-CEO alongside Jay Crystal.
Shareholders also approved lifting the conversion cap on Series C and Series D preferred stock. Following automatic Series C conversion, Corvex expects about 27.6 million common shares outstanding and Series D preferred convertible into 28.9 million shares. The company added Chance Moreland as CFO, with 523,211 RSUs vesting over four years.