The Arlington-based company finalized its transition away from legacy healthcare operations on June 30, offloading assets to satisfy a bridge loan and securing a $2.5 million gain on the disposal. This shift allows the firm to focus exclusively on its GPU-accelerated AI computing platform. To support this trajectory, the company recently expanded its leadership team, appointing Chance Moreland as CFO and Michael Craig as VP of Architecture and Site Operations.
In section Releases
Corvex Reports $22 Million in Contracted AI Compute Revenue
Corvex, Inc. disclosed $3.8 million in revenue for the second quarter of 2026, marking its first full reporting period following the company’s pivot to AI cloud infrastructure. While the firm posted a net loss of $12.8 million, leadership pointed to a $22 million annualized recurring revenue figure as evidence of growth.
Operational progress includes the closed alpha launch of Corvex Token Factory version 1, with further updates planned for the remainder of the year. The firm has also moved to simplify its capital structure, converting multiple series of preferred stock into common shares to streamline its equity profile. As of late June, Corvex held $21.7 million in cash and equivalents, providing a runway as it scales its infrastructure and seeks to convert contracted capacity into recognized revenue.
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