Datavault AI Surges 28% on $150M Bitcoin Supercomputer Deal
Investment from Scilex Holding will fund a new AI supercomputer to accelerate the company's push into the biotech data market.
Datavault AI (DVLT) shares surged more than 28% in after-hours trading following the announcement that the company has secured a $150 million strategic investment to fund the construction of a new artificial intelligence supercomputer. The investment, made in Bitcoin by Scilex Holding Company, caused a massive spike in trading volume as investors reacted to the news.
The deal is structured to deliver the funding in two separate tranches. Scilex will provide an initial investment of approximately $8.07 million, with a second tranche of nearly $142 million pending stockholder approval. In exchange, Scilex will receive up to 278.9 million shares of Datavault common stock at an effective price of $0.5378 per share, .
This capital injection is earmarked to significantly enhance Datavault AI's high-performance computing capabilities. The company plans to use the funds to build out its AI supercomputer and expand its independent data exchanges. The primary strategic goal is to capture a significant share of the rapidly growing biotech data monetization market, which is . This initiative will also support Datavault AI's existing partnerships with prominent institutions, including the U.S. Department of Energy’s Brookhaven National Laboratory and IBM WatsonX.
The market's reaction was immediate and decisive. Shares of DVLT closed up 28.43% on exceptional trading volume, signaling strong investor confidence in the company's strategic direction. The move into advanced AI infrastructure positions Datavault to better leverage its core business of data valuation and monetization within the Web 3.0 ecosystem.
Datavault AI specializes in providing cloud-based, AI-driven solutions for data visualization and valuation. By securing this major investment, the company is poised to accelerate its growth and solidify its role in the competitive AI and data-science landscape. The completion of the supercomputer and the successful execution of its biotech strategy will be key milestones for investors to monitor in the coming months.