Mentioned:
Datavault AI wants to be a first mover in supercomputing infrastructure. And they’ve just landed a new strategic investment of more than a hundred million dollars to do it.
What’s happening:
- Datavault AI (NASDAQ: DVLT) has entered into a new financing agreement with Scilex Holding Company (NASDAQ: SCLX) in which Scilex Holding Company will invest $150M USD into Datavault AI
Why it matters:
- Scilex Holding Company’s strategic investment into Datavault AI is the single largest equity financing round that Datavault AI has ever done since first being founded
Going deeper:
- Datavault AI has publicly stated they plan to use the new growth capital to accelerate the build out of a new supercomputing cluster and data exchange infrastructure
- Datavault AI has multiple notable existing collaborations focused on handling large scale complex data for biotech, including with the United States Department of Energy’s Brookhaven National Laboratory and with IBM WatsonX
Market reaction:
- Shares of Datavault AI surged more than +30% following the announcement
The fine print:
- Only the initial tranche of roughly $8M USD has closed, with the remaining $141M USD requiring both shareholder and regulatory approval before it can officially close
