Key Highlights
- Datavault AI (DVLT) has entered a binding term sheet with Scilex Holding (SCLX) for a $120 million capital injection
- The agreement grants Scilex tiered revenue-sharing rights: 30% until reaching $250M, 15% until $1.2B, then 5% thereafter
- Capital deployment targets quantum-resistant GPU edge computing infrastructure spanning approximately 100 metropolitan areas
- New York and Philadelphia will serve as launch markets with Q2 2026 go-live dates
- The company reports current holdings of Nvidia GPUs valued at approximately $1.2 billion market price
Datavault AI (DVLT) has formalized a binding term sheet arrangement with Scilex Holding (SCLX) that brings $120 million in funding to support a large-scale GPU infrastructure expansion across the United States. The transaction utilizes a revenue-participation framework instead of equity ownership, preserving the shareholding structure for current DVLT investors.
The compensation model operates on a sliding scale. Scilex will capture 30% of gross revenues generated by the network until receiving aggregate payments of $250 million. The participation rate then adjusts downward to 15% until total distributions reach $1.2 billion. Once that milestone is achieved, the rate decreases further to just 5%.
The investment will finance construction of what the company describes as edge-based micro data centers featuring quantum-resistant security protocols and GPUs optimized for distributed AI computation.
Datavault AI has selected Available Infrastructure’s SanQtum technology platform as the foundational architecture for this distributed network. Each deployment location incorporates zero-trust security frameworks, sovereign private cloud capabilities, and localized GPU computing resources.
CEO Nathaniel T. Bradley emphasized that the financing structure enables aggressive infrastructure expansion while avoiding the issuance of additional shares. This non-dilutive approach represents a central element of the deal’s appeal to existing equity holders.
Phased Rollout Strategy
The infrastructure deployment follows a multi-year schedule. The companies have committed to activating 25 operational sites within the first 12 months following transaction closure, expanding to 50 locations by the 24-month mark, and completing the 100-city network within three years.
The initial metropolitan launches will occur in New York and Philadelphia, with both markets projected to come online during the second quarter of 2026. The financing itself will transfer in multiple installments, with the final tranche scheduled to complete before the end of 2026.
Datavault AI maintains it currently possesses Nvidia GPU inventory with an estimated market valuation of $1.2 billion, which the company indicates will anchor the nationwide infrastructure buildout.
Financial Outlook
Available Infrastructure CEO Dan Gregory provided ambitious revenue forecasts for the initiative. He projected potential annual revenue ranging from $100 million to $1 billion on a per-city basis, which extrapolates to an aggregate opportunity between $10 billion and $100 billion once all 100 markets are operational.
These figures represent forward-looking estimates rather than committed outcomes, and the parties have yet to execute a final definitive agreement. Outstanding items include finalization of standard contractual provisions such as representations, warranties, and closing conditions.
Datavault AI also highlighted expectations for total cash receipts exceeding $200 million when combining this Scilex investment with anticipated Bitcoin asset liquidations and accounts receivable collections — all structured to avoid equity dilution.
DVLT shares declined 1.22% while SCLX dropped 3.60% in trading following the announcement.
