News & Events zu Corvex Inc (MOVE)MOVECorvex Inc

Corvex Increases IT Power Capacity to 8 MW

Corvex announced a more than fivefold increase in its IT power capacity, with the ability to scale to 13 times its current critical IT power capacity. The expansion involves doubling capacity at the Company's existing Mid-Atlantic data center and establishing operations at a second existing enterprise-scale data center in the Midwest. Together, the deployments are expected to increase Corvex's critical IT power capacity from approximately 1.5 MW today to approximately 8 MW by the end of 2026. Both sites are expected to be ready for service in the fourth quarter of 2026. The Company anticipates generating revenue from these expansions starting in the first quarter of 2027.

Corvex Signs Multi-Year Agreement to Provide Nvidia GPUs

Corvex (MOVE) has signed a multi-year agreement to provide clusters of Nvidia (NVDA) Blackwell GPUs connected with Nvidia Quantum-2 InfiniBand networking to an AI company. Operating within an existing air-cooled facility, Corvex installed and commissioned high-density, liquid-cooled Nvidia HGX B200 capacity approximately two weeks after the equipment arrived, without a facility rebuild or a move to a new site. The multi-year agreement expands on an earlier customer commitment and includes dedicated high-speed storage and CPUs. Corvex delivered the first portion of the cluster in Q1 and the remaining capacity was delivered in Q2 and Q3. Corvex is funding the expansion through a combination of debt financing, customer pre-payment, and cash on hand. Revenue for the transaction has been recognized throughout the year as portions of the cluster have been delivered, with full run-rate revenue starting midway through the current quarter.

Selling Stockholders Plan to Sell 53.39M Shares of Common Stock

This filing relates to the offer and sale from time to time by the selling stockholders of up to 53.39M shares of common stock. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.