Datavault AI Inc. (NASDAQ: DVLT) shares ripped higher in Thursday's after-hours trading after securing $150 million investment in Bitcoin (CRYPTO: BTC) to build a supercomputer.
DVLT is surging to new heights today. Check the fundamentals here.
‘Strategic’ Investment To Boost Infrastructure
The stock rallied over 23% in the after-hours session, building on its gains from the regular trading session. Shares of the data sciences technology firm jumped to an intraday high of $1.07, marking a 64% jump from the previous close.
The surge comes after biotech firm Scilex Holding Company (NASDAQ: DVLT) made a “strategic investment” of $150 million, intending to boost Datavault’s supercomputing infrastructure, expand independent data exchanges and open new revenue streams.
The transaction was executed in Bitcoin at the spot exchange rate. Scilex Holdings’ investment aims to capture growth in the growing biotech data monetization market.
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Price Action: At the time of writing, BTC was exchanging hands at $109,715, down 2.62% over the last 24 hours, according to data from Benzinga Pro.
Datavault AI shares rallied 23.38% in after-hours trading after closing +28.43% higher at $0.8348 during Thursday’s regular trading session.
Scilex Holding stock fell 2.16% after-hours, despite closing 1.92% higher at $29.14 earlier.
The stock lagged on the Momentum and Growth parameters. How does it compare with Coinbase Global Inc. COIN and other cryptocurrency-linked stocks? Visit Benzinga Edge Stock Rankings to find out.
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Image via Shutterstock/ Zakharchuk
