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3w ago

EVTV Soars After AZIO AI Secures $107 Million GPU Order and Pursues Merger

Shareholders vote Jan. 20 on a non-binding deal that would pivot the EV maker into an AI infrastructure company.

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Overview

  • AZIO AI announced a binding purchase order for 256 Nvidia B300 GPUs from a Southeast Asian government, totaling about $107 million.
  • The company said it expects a 30% deposit in the coming weeks and cited a regional pipeline that could add up to $200 million, subject to finalization.
  • Envirotech and AZIO AI signed an amended LOI using a $3.00 per EVTV share reference that implies roughly a $480 million valuation for AZIO AI.
  • EVTV shares jumped about 442% Monday to $2.51 on 761 million shares traded, with further gains reported Tuesday.
  • The merger framework remains non-binding and requires definitive agreements and shareholder approval; AZIO’s unit previously delivered eight Nvidia B200 GPUs for about $2.8 million in revenue.