Datavault AI (DVLT) Stock: Bitcoin Financing, RWA Deals and Wild Volatility

Datavault AI Inc. (NASDAQ: DVLT) has become one of the most talked‑about micro‑cap AI names on the market – and not just because of its eye‑catching ticker. The company sits at the intersection of artificial intelligence, high‑performance computing and “real‑world asset” (RWA) tokenization, and over the last few weeks it has fired off a barrage of deals, guidance hikes and controversial headlines.

As of early afternoon on December 2, 2025, DVLT stock is trading around $1.89, giving the company a market capitalization of roughly $538 million, with a 52‑week range of $0.25 to $4.10 and heavy average daily volume of about 59 million shares. ^[1] Despite being up more than 140% over the last six months, the stock has dropped roughly 20–21% over the past week and remains extremely volatile. ^[2]

Here’s a deep dive into the latest DVLT stock news, forecasts and analysis as of December 2, 2025 – and what it could mean for investors watching this name on Google News and Discover.

What Datavault AI Actually Does

Datavault AI describes itself as a data monetization and real‑world asset tokenization platform, built on high‑performance computing and proprietary software. ^[3]

In more practical terms, the company is trying to be the “infrastructure layer” for turning real‑world assets and data into digital, tradable, income‑producing instruments:

Tokenizing physical and financial assets: energy projects, mining deposits, real estate, commodities, invoices, carbon credits, even enterprise datasets. ^[4]
Data valuation and protection: AI systems that score and secure data so it can be safely used or sold. ^[5]
High‑performance computing (HPC): supercomputing capacity to power data exchanges and tokenization platforms at scale. ^[6]
Engagement tech: tools like the ADIO® ultrasonic engagement system and Sumerian® “anchors” that attach digital records to physical objects (for example, gemstones or event experiences). ^[7]

The business model centers on upfront licensing fees plus recurring royalties and transaction fees on assets that move across its platforms. ^[8] In other words, Datavault wants to get paid when assets are tokenized and every time those tokens change hands.

DVLT Stock Today: Price, Volume and Volatility

From a market‑structure standpoint, DVLT looks like a quintessential story stock:

Price: about $1.89 per share as of December 2 (U.S. afternoon trading). ^[9]
Market cap: ~$537.6 million. ^[10]
Day range (Dec 2): roughly $1.88–$2.00. ^[11]
52‑week range:$0.25–$4.10, highlighting just how violent the swings can be. ^[12]
Average 30‑day volume: about 59 million shares. ^[13]

According to Investing.com, DVLT shares have surged ~141% over the last six months but dropped around 20% in the last week, partly as investors digest a complex financing deal with Scilex and a flurry of new contracts. ^[14]

Quiver Quantitative notes that DVLT was among its most‑searched tickers recently and that insiders have been net sellers – including Scilex Holding and Datavault’s CEO – while institutional investors such as Vanguard, BNP Paribas and JPMorgan have added positions. ^[15]

In short: DVLT trades like a high‑beta AI/crypto hybrid – huge upside days, equally brutal drawdowns.

Q3 2025 Results: Rocket‑Ship Revenue, Heavy Losses

Datavault’s latest reported quarter – Q3 2025 (ended September 30, reported November 17) – is the backdrop for most of the current narrative.

Headline numbers

According to the company’s Q3 update and Google Finance data:

Revenue:$2.9 million, up 148% year‑over‑year and 67% sequentially. ^[16]
Net income:‑$32.98 million, a loss that widened sharply versus the prior year. ^[17]
Net profit margin: around ‑1,100%+, reflecting a very early‑stage, high‑burn business. ^[18]
Cash and short‑term investments: about $1.68 million as of Q3, against total assets of roughly $138.7 million and liabilities near $39.2 million. ^[19]

Full‑year 2024 revenue was only $2.67 million, with $67.7 million in losses, underscoring how small the current revenue base is relative to the company’s valuation. ^[20]

Aggressive guidance hikes

The real attention‑grabber was guidance. In its Q3 press release, Datavault:

Lifted 2025 revenue guidance: the low end moved from $12–15 million to at least $30 million. ^[21]
Raised 2026 guidance to over $200 million, implying roughly a 4x jump from the prior 2026 outlook of $40–50 million. ^[22]

This is the foundation for many bullish models. At today’s ~$538 million market cap, DVLT trades at roughly:

~18x its low‑end 2025 revenue guide (~$30M).
~2.7x its 2026 revenue guide (~$200M).

If the company actually delivers these numbers, the valuation starts to look more reasonable. If it misses by a wide margin, the stock could quickly look very expensive again.

Trefis estimates DVLT trades at a price‑to‑sales multiple near 10x based on current fundamentals, versus about 3x for the broader market, and points out the combination of triple‑digit revenue growth with extremely negative margins and thin cash reserves. ^[23]

The Scilex Bitcoin Deal: Big Capital, Big Dilution

The most dramatic near‑term development is Datavault’s strategic equity financing with Scilex Holding Company (NASDAQ: SCLX).

Second tranche: 1,237.6 BTC and a massive pre‑funded warrant

On November 26, 2025, Datavault announced it had closed the second tranche of Scilex’s investment: ^[24]

Scilex purchased a pre‑funded warrant exercisable for 263,914,094 DVLT shares.
In exchange, Datavault received roughly 1,237.6 Bitcoin (BTC) – added to its digital asset reserves.
This followed an initial tranche completed on September 26, 2025, valued at about $8 million in Bitcoin.

For context, Datavault currently has about 285 million shares outstanding, according to Google Finance. ^[25] The warrant therefore represents potential dilution approaching 90–100% of the existing share count if fully exercised. That’s a huge overhang for shareholders, even though the company gains substantial strategic capital.

A TipRanks summary pegs the completed Scilex investment at an implied valuation of approximately $583 million for Datavault, with the two companies targeting growth in RWA tokenization and biotech data applications. ^[26]

$10 million license + up to $2.55 billion milestones

Separate from the equity component, Datavault and Scilex signed a $10 million worldwide exclusive license covering Datavault’s AI‑driven technology for biotech and biopharma: ^[27]

Scilex gets rights to build a Biotech Exchange platform for tokenizing genomic data, diagnostics, therapeutics and other biotech assets.
Datavault receives $10 million in upfront license fees, paid in four $2.5 million installments between late 2025 and September 2026.
The agreement includes up to $2.55 billion in sales‑based milestone payments if Scilex hits ambitious commercial targets.

A recent analysis from Parameter highlights that the second tranche both bolsters Datavault’s digital asset reserves and sharply increases potential share dilution, framing the deal as a trade‑off between capital and ownership. ^[28]

Scilex trims its stake

On November 28, Scilex – a 10% owner – disclosed the sale of 422,299 DVLT shares at an average price of about $2.06, for proceeds of roughly $871,160. ^[29] That sale came after the stock’s rapid run‑up and has added to investor debate about insider/strategic confidence versus simple profit‑taking.

RWA Deal Flow: Triton, MTB Mining, WBC and Healthcare

Datavault’s rerating has been driven not just by financing, but by a string of commercial announcements that attempt to show its tokenization model working in the real world.

Triton Geothermal: $8M+ and 5% royalty on a $125M issuance

A MarketBeat piece on November 20 explains why DVLT jumped roughly 18% after the company announced a multi‑million‑dollar agreement with Triton Geothermal: ^[30]

The deal includes up to $8 million in tokenization fees tied to a planned $125 million geothermal RWA offering.
Datavault will serve as exclusive technology provider and is entitled to a 5% participation in future transaction fees on Triton’s digital tokens.

This agreement was a key factor behind the 400%+ upward revision to FY 2026 revenue guidance, serving as a proof‑of‑concept for the company’s royalty‑driven model. ^[31]

MTB Mining: turning copper reserves into digital assets

On November 24, Datavault announced a $7 million license and 30% perpetual royalty deal with MTB Mining Limited in Tanzania: ^[32]

MTB controls more than 25 million metric tons of copper reserves and 2.44 square kilometers of proven mineral reserves.
Datavault will use its Sumerian® technology to mint these minerals – plus assets like the famous Windsor Ruby – into verified digital tokens to trade on its planned International Elements Exchange.

This deal is positioned as a template for digitizing minerals across Africa and using tokenized assets as collateral for lending and cross‑border trade. ^[33]

World Boxing Council: global event‑driven monetization

On November 26, Datavault signed a software licensing agreement with the World Boxing Council (WBC), one of boxing’s most influential sanctioning bodies. ^[34]

Key points:

The deal uses Datavault’s ADIO® ultrasonic engagement, DataVault®, VerifyU™, and Information Data Exchange (IDE) platforms at WBC championship events through 2026. ^[35]
WBC events are broadcast in more than 170 countries, providing a huge pool of measurable fan interactions. ^[36]
Datavault and WBC will split certain event‑driven revenue 50/50, with authenticated fan engagement data treated as revenue‑generating RWAs. ^[37]

The idea is that even modest participation rates at major fights (for example, 10% of 40+ million viewers interacting via ADIO or QR codes) could produce multi‑million‑dollar datasets that Datavault can monetize over time. ^[38]

Healthcare: Wellgistics and prescription‑data smart contracts

Datavault also announced a patent licensing deal with Wellgistics Health covering digital‑ledger smart contracts for the prescription drug distribution industry – another vertical where the company sees large RWA and compliance‑ready data opportunities. ^[39]

Details include exclusive rights for Wellgistics to deploy Datavault technology in certain pharma channels, combined with Datavault’s broader push to tokenize genomic and diagnostic data through its Scilex partnership. ^[40]

Dream Bowl 2026 Meme Coin: marketing or material value?

In addition, Datavault is planning a Dream Bowl 2026 Meme Coin distribution to its own shareholders and to shareholders of Scilex. A November 21 update clarified that: ^[41]

Record date: November 25, 2025, subject to potential change by the board.
Eligible holders will receive tokens via Data Vault® wallets after a later payment date, assuming they opt in and complete wallet setup.

While this is unlikely to be a major financial driver on its own, it’s part of Datavault’s broader strategy of using tokenized “dividends” to reward shareholders and create additional pressure on short sellers through non‑cash distributions. ^[42]

Short Seller Report, Lawsuit and Data Privacy Concerns

Not all of the recent headlines have been positive.

Wolfpack Research short report and Datavault’s lawsuit

On October 31, short‑selling firm Wolfpack Research published a critical report on Datavault AI. In response, on November 10 the company filed a defamation lawsuit against Wolfpack and its founder Dan David, accusing them of releasing a “malicious and self‑serving” short report that allegedly misrepresented public filings and harmed shareholders. ^[43]

The suit, filed in U.S. court and referenced in a current report on Form 8‑K, underscores how contentious the DVLT story has become. ^[44] Legal outcomes remain uncertain and could take years to resolve.

Data privacy breach reports and “challenging financial terrain”

On November 25, StocksToTrade reported that DVLT shares were down more than 13% intraday amid “concerns over recent data privacy breach reports,” alongside criticism of heavy losses, rising debt and weak financial ratios. ^[45] The article highlighted:

A net income loss around $33 million on revenue of roughly $2.7–$2.9 million. ^[46]
Extremely poor EBIT margins and a current ratio near 0.7, suggesting pressure on short‑term liquidity. ^[47]

While some of these metrics are drawn from earlier filings and may not fully reflect post‑Scilex financing capital, they reinforce the perception that Datavault is still financially fragile.

Sentiment Check: Insiders, Institutions and Short Interest

According to Quiver Quantitative, DVLT: ^[48]

Has seen nine insider sales and zero insider purchases over the last six months, including selling by Scilex, CEO Nathaniel Bradley and other executives.
Shows 35 institutional investors increasing positions vs. 11 decreasing positions in the most recent quarter, including large add‑ons by Vanguard, BNP Paribas, Geode and JPMorgan.

Separately, StockAnalysis data indicates that short interest is in the high‑single‑digit percentage range of the float, with a relatively modest institutional ownership base and sizeable insider/strategic holdings. ^[49]

This mix – elevated short interest, high retail volume, strategic insiders, and growing but still small institutional participation – helps explain the stock’s tendency toward sharp squeezes and equally sharp sell‑offs.

DVLT Stock Forecasts: What Analysts Are Saying

There is still limited Wall Street coverage, but the analyst community that does follow DVLT is broadly constructive – if cautious.

Price targets and ratings

MarketBeat reports a “Moderate Buy” consensus based on three analyst ratings, with:
- Average 12‑month price target:$7.00
- High target:$11.00
- Low target:$3.00 – implying potential upside of roughly 270% from ~$1.89. ^[50]
StockAnalysis cites one analyst with a “Strong Buy” rating and a $3.00 target, implying about 57% upside from current levels. ^[51]
Quiver Quantitative notes that Maxim Group initiated or reiterated a “Buy” rating on DVLT on June 12, 2025. ^[52]

Keep in mind that these targets are based on small‑sample coverage and are highly sensitive to management’s ability to hit its aggressive revenue guidance.

Independent valuation views

The Trefis article “Datavault: Intriguing Company, But Is the Stock Investable Yet?” captures the current divide well: ^[53]

Trefis highlights the Triton and MTB deals as genuine validation of Datavault’s IP and recurring revenue model.
However, it flags a price‑to‑sales multiple near 10x, operating margins around ‑750%, net margin near ‑1,300%, and very low cash relative to assets.
The conclusion: DVLT is a “tightrope walk” – high ambition and high perceived opportunity, but also high leverage and high execution risk.

That phrase nicely summarizes how many professional investors are likely viewing the stock right now.

Key Risks for DVLT Stock

For anyone considering DVLT, the risk side of the ledger is just as important – maybe more so – than the upside story.

1. Execution risk on extreme guidance
Jumping from $2.9M quarterly revenue to $30M+ in 2025 and $200M+ in 2026 demands flawless execution on dozens of contracts across energy, mining, biotech, sports and more. ^[54] Many of these deals are early‑stage and contingent on counterparties hitting their own milestones.

2. Dilution and capital structure risk
The Scilex pre‑funded warrant for ~264 million shares could almost double the share count if fully exercised, sharply diluting existing holders. ^[55] Even with added Bitcoin and license fees, the company may still need additional capital if execution lags.

3. Profitability and cash‑flow risk
With Q3 net margins worse than ‑1000% and large negative free cash flow, Datavault must dramatically scale revenue or cut costs to reach anything like sustainable profitability. ^[56] Its own filings continue to include going‑concern language around liquidity and the need for further funding. ^[57]

4. Regulatory and reputational risk
Operating in tokenization, digital assets and memecoins exposes DVLT to evolving regulations and potential enforcement risk across multiple jurisdictions, particularly around data privacy and securities classification. The Wolfpack short report, subsequent lawsuit, and data‑breach‑related headlines underscore the reputational sensitivity here. ^[58]

5. Concentrated counterparties
A significant portion of the long‑term bull case now depends on Scilex (biotech exchange), Triton Geothermal, MTB Mining, and a handful of large licensing partners. If any of these relationships stumble, projected royalties and milestones could fall far short of expectations. ^[59]

The Bull Case: Why Some Investors Are Excited

On the other side, the bull thesis for DVLT stock is straightforward – if everything works:

Early mover in RWA tokenization: DVLT is positioning itself as a rails‑provider for tokenizing everything from geothermal plants to copper mines to genomic data, in a market that many expect to be worth trillions over time. ^[60]
High‑margin, recurring revenue potential: Contracts like Triton and MTB combine upfront fees with perpetual royalties, theoretically creating annuity‑like cash flows once projects ramp. ^[61]
Expanding proof points: The WBC deal shows the model extending into sports and entertainment, while Wellgistics and Scilex highlight healthcare and biotech use cases. ^[62]
Upside leverage: If management delivers anywhere close to $200M+ in 2026 revenue, today’s valuation could look extremely cheap in hindsight, especially if margins improve alongside scale. ^[63]

For highly risk‑tolerant investors, DVLT can look like a leveraged call option on the success of real‑world asset tokenization.

So Is DVLT Stock a Buy, Sell or Hold?

Whether DVLT is “investable” today depends almost entirely on your risk tolerance and time horizon.

If you need stable earnings, strong balance sheets and low volatility, DVLT currently fails almost every test. The company is deeply unprofitable, still dependent on external capital, and embroiled in a public fight with a short seller. ^[64]
If you specialize in speculative, story‑driven small caps, you may see DVLT as a high‑beta way to play:
- RWA tokenization,
- real‑time fan engagement data,
- and AI‑driven HPC infrastructure – all wrapped into one ticker.

In that scenario, position sizing and risk management become critical. Even bullish analysts and commentary from MarketBeat, Trefis and others emphasize that everything now hinges on Datavault’s ability to translate patents and press releases into repeatable, scaled, cash‑generating contracts within the next couple of years. ^[65]

As always, this article is informational only and does not constitute financial or investment advice. DVLT is a highly speculative stock; consider speaking with a qualified financial adviser and reviewing the company’s SEC filings before making any investment decisions.