Corvex, Inc. (Nasdaq: MOVE) announced plans to expand critical IT power capacity from approximately 1.5 MW to approximately 8 MW by the end of 2026, more than a fivefold increase. The company will expand its existing Mid-Atlantic data center and establish operations at a second existing enterprise-scale Midwest facility, with both sites expected to be ready for service in the fourth quarter of 2026. The deployments are expected to bring approximately 3,000 latest-generation GPUs online across the two locations. Corvex also secured a right of first refusal on an additional 12.5 MW at the Midwest site, providing a potential path to more than 20 MW of total capacity, or a 13-fold increase from current levels. Revenue from the initial expansion is anticipated from the first quarter of 2027, while the additional Midwest capacity is expected to be ready for service in the third quarter of 2027 if pursued. The buildout is being funded through a private placement of common stock and Series D Preferred Stock expected to generate approximately $33 million in gross proceeds. Goldman Sachs & Co. LLC, Morgan Stanley and Oppenheimer & Co. are serving as joint lead placement agents. Pro forma cash and cash equivalents are expected to rise to approximately $55 million from $22 million as of June 30, 2026. At publication, Corvex shares were trading 30.37% higher at $14.98, according to Benzinga Pro data.