PHILADELPHIA, May 4, 2026, 10:03 EDT
Shares of Datavault AI Inc. tumbled roughly 20% on the Nasdaq early Monday, following the company’s move to price a $60 million common stock offering intended to bankroll its upcoming AI computing network. According to market data, the stock was last quoted at 59.69 cents—off 14.69 cents versus Friday’s finish.
Financing is now front and center for Datavault, as it moves from broad infrastructure promises to actually getting gear in place. The company has lined up a deal to sell 109,090,910 shares to institutional buyers via a registered direct offering—a type of stock sale that uses an existing registration statement. That haul should bring in about $60 million in gross proceeds before expenses, pegging the share price near 55 cents.
Funds will go toward building out Datavault’s “quantum-ready” GPU edge network and covering working capital needs. GPUs—graphics processing units—power much of today’s AI; edge networks bring that muscle closer to end users instead of handling everything in distant data centers. CEO Nathaniel T. Bradley described the deal as an “important step” for rolling out the network. Datavault AI Inc.
First up for investors: dilution concerns. Datavault counted 698.5 million common shares outstanding as of April 28, according to a separate S-3. The new offering tacks on roughly 109.1 million more shares—excluding any subsequent deal adjustments.
Datavault says its first GPU locations are now up and running in New York and Philadelphia, as the company eyes full commercial launch of a planned 48,000-GPU fleet in the third quarter of 2026. By the end of this year, Datavault aims to have 1,000 micro-edge sites in over 100 U.S. cities. The firm bills its architecture as “quantum-ready,” claiming built-in, quantum-resistant security features. Datavault AI Inc.
This latest raise comes after a separate funding option surfaced. Back on April 26, Scilex Holding Company and Datavault signed a binding term sheet: Scilex agreed to provide $120 million, to be delivered in several installments through Dec. 31, 2026. The funds target the same network and, in return, Scilex gets a cut of network revenue.
Datavault is making a push into cybersecurity. The company and CyberCatch Holdings announced on May 1 that they’ve signed a binding letter of intent: Datavault plans to acquire CyberCatch in an all-stock deal worth C$136.8 million. CyberCatch would become a subsidiary in San Diego. “Cybersecurity is the precondition” for both data and AI, Datavault’s Bradley said. For customers, CyberCatch CEO Sai Huda claims the combination lays out “a clear path” to a single secure-data platform. Datavault AI Inc.
Datavault is still a small, choppy operation. The company said it pulled in $39.1 million in revenue for 2025—up sharply from $2.67 million last year. It managed to notch its first quarterly profit in the fourth quarter. Still, full-year net losses added up to $78.99 million.
The rivals aren’t short on cash. CoreWeave, Nebius, and Lambda—all focused on AI cloud and GPU infrastructure—offer Nvidia-powered server rentals to AI model creators and app teams. Nebius, for its part, said on May 1 that it’s buying Eigen AI to bolster its inference platform, the tech that powers outputs from trained AI models.
The risks are straightforward enough. The stock sale still faces closing conditions. The CyberCatch transaction? That’s not done—still waiting on a definitive agreement, due diligence, and a stack of approvals: shareholder, court, exchange. Big blocks of common shares hitting the market could put pressure on prices. For Datavault, pulling this off also hinges on site activation, securing equipment, customer uptake, and where financing stands—lots of variables in play.
Right now, investors see it this way: Datavault has landed funding. The price tag on that capital? They’re pushing it lower.
