DealsApr 28, 2026, 04:12 PM
DVLT Secures $120M from Scilex for 100-City GPU Network Expansion
AI Summary
Datavault AI Inc. announced a binding term sheet with Scilex Holding Company for a $120 million upfront cash contribution. This funding will exclusively support the deployment of Datavault AI's quantum-ready GPU infrastructure across an estimated 100 cities in the United States, forming the "Quantum-Ready Edge Network." In return, Scilex will receive a portion of the network's gross revenues, structured with tiered percentages until certain caps are met. The company projects a total $200M+ cash infusion without equity dilution, including other anticipated sales.
Key Highlights
- Datavault AI secured a binding term sheet for a $120 million cash contribution from Scilex.
- Funds will deploy quantum-ready GPU infrastructure across 100 US cities for the Quantum-Ready Edge Network.
- Scilex to receive 30% of network revenues up to $250M, then 15% up to $1.2B, then 5%.
- Datavault AI projects $200M+ cash infusion without equity dilution, including BTC sale and receivables.
- The Quantum-Ready Edge Network has an aggregate annual revenue potential of $10B to $100B.
- Datavault AI has $1.2 billion in Nvidia GPUs in stock for the nationwide rollout.
- Deployment targets: 25 operational locations within 12 months, 100 within 36 months.