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Datavault AI Shares Jump 23% After Hours As Company Secures $150 Million Bitcoin Investment To Build Supercomputer
Benzingaยท 2025-09-26 02:47
Core Insights - Datavault AI Inc. (NASDAQ: DVLT) shares experienced a significant increase after securing a $150 million investment in Bitcoin to enhance its supercomputing capabilities [1][3] - The stock surged over 23% in after-hours trading, building on a 64% increase from the previous close [2][4] Investment Details - The investment was made by Scilex Holding Company, aimed at improving Datavault's supercomputing infrastructure, expanding independent data exchanges, and creating new revenue streams [3] - The transaction was executed in Bitcoin at the current spot exchange rate, reflecting a strategic move to capitalize on the growing biotech data monetization market [3] Market Performance - Datavault AI shares closed at $0.8348 during regular trading and rose to an intraday high of $1.07, marking a total increase of 64% from the previous close [2][4] - In contrast, Scilex Holding's stock fell by 2.16% in after-hours trading despite a 1.92% increase earlier in the day [4]