Corvex (MOVE) Registration filing summary

Company overview and business model

• Operates as an AI cloud computing company specializing in GPU-accelerated infrastructure for AI workloads, offering secure, scalable, and cost-efficient computational resources for model training and inference.

• Provides managed GPU clusters, confidential computing, and is developing a Token Factory to improve inference efficiency and reduce costs.

• Serves technology, healthcare, financial services, and government sectors, focusing on high-performance, secure, and compliant infrastructure.

• Employs a direct sales model with strategic partnerships, including with NVIDIA, and targets annual or multi-year customer commitments.

Financial performance and metrics

• For the nine months ended September 30, 2025, reported $4.8 million in revenue, with a net loss of $3.8 million; no revenue was generated in 2024.

• Cost of revenue for the same period was $1.3 million, with significant expenses in technology, infrastructure, and stock-based compensation.

• Raised $22 million from Series Seed Preferred Stock and $37.1 million from SAFEs between inception and September 2025.

• As of September 30, 2025, held $2.7 million in cash and cash equivalents.

Use of proceeds and capital allocation

• May receive up to $1 billion in gross proceeds from Chardan under the equity facility, with actual proceeds dependent on share sales and market price.

• Proceeds are intended for general corporate purposes, with broad discretion in allocation, subject to Corvex's consent prior to merger closing.