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Movano Shares Triple After Announcing Merger with AI Firm Corvex
13 Nov
Summary
- Movano (MOVE) shares more than tripled on Nov. 10 after merger announcement
- Merger transforms MOVE from health-tech to AI infrastructure company
- Existing Movano shareholders to own less than 4% of combined entity
On November 10th, 2025, Movano (MOVE) shares more than tripled after the company announced an all-stock merger with Corvex, an AI cloud computing firm specializing in GPU-accelerated infrastructure. This transformative deal positions Movano to benefit from the sustained momentum in artificial intelligence, shifting the company's focus from wearable health-tech devices to AI infrastructure.
However, the merger comes at a significant cost for existing Movano shareholders. Following the transaction, they will own less than 4% of the combined entity, indicating the original Movano business has limited value in this deal. This overwhelming dilution risk makes Movano shares rather unattractive at their current valuation, which is trading over 70% above the $6.25 deal price.
Additionally, legal challenges have emerged, with a securities law firm investigating whether Movano's board breached its fiduciary duties by failing to secure adequate value for shareholders. This raises legitimate concerns about whether the merger truly serves the best interests of existing Movano stockholders.
