Corvex, an AI compute platform, has secured $33 million from a private placement of common stock and a Series D funding round to expand its capacity to 8MW by the end of 2026. The company currently operates a 1.5MW footprint and plans to double capacity at its existing Mid-Atlantic data center while establishing operations at a second site in the Midwest. The expansion includes bringing 2,000 of the latest-generation GPUs online at the Midwest site and 1,000 additional GPUs to the Mid-Atlantic site.
The funding round was led by Goldman Sachs & Co. LLC, with Morgan Stanley and Oppenheimer & Co. acting as Joint Lead Placement Agents. Corvex has not stated which specific GPUs will be deployed, though its website lists Nvidia B300, GB200, B200, and H200 GPUs as available on its platform. The company expects to start generating revenue from these deployments in Q1 of 2027. Corvex also holds a right of first refusal on an additional 12.5MW at the Midwest site, which could be ready for service in Q3 of 2027 and bring total capacity above 20MW.
The expansion reflects a focus on securing energized power inside finished buildings, which co-CEO Jay Crystal called the scarce input in AI infrastructure. A portion of the proceeds will also support the Corvex Token Factory offering, currently in closed alpha, which aims to give customers API access to open-source AI models. Co-CEO Seth Demsey said the product is designed to address the cost of serving AI at scale by offering near-frontier performance at a fraction of the price per million tokens of frontier proprietary models.
What remains unknown is whether Corvex can execute the buildout on schedule and convert the additional 12.5MW option into contracted capacity. The report does not specify the exact GPU models, the financial terms of the private placement, or customer commitments. Corvex was formerly Movano, completed its merger on March 19, 2026, and disposed of its healthcare business in June 2026, leaving the AI compute platform as its core operation.