Envirotech Vehicles Stock Surges 442% on AI Pivot and $107M GPU Deal
Envirotech Vehicles (EVTV) shares skyrocketed 442% to $2.51 with 761 million shares traded after announcing a transformative merger with Azio AI. The deal implies a $480 million valuation for Azio at $3/share reference price, pivoting the electric vehicle manufacturer into AI infrastructure.
Azio AI secured a binding $107 million order for 256 Nvidia B300 GPUs from a Southeast Asian government, with a 30% deposit expected soon. Potential regional contracts could add $200 million to the pipeline. Shareholders will vote on the merger January 20 after a postponed meeting due to lack of quorum.
After-hours trading pushed shares to $3.16 as investors bet on the AI transition. The microcap stock’s volatility reflects both the speculative nature of the deal and the market’s appetite for AI-related plays.
