Scilex signs $120M binding term sheet to invest in AI infrastructure, targeting $1.2B+ revenue share

Filed April 28, 2026 · Period ending April 26, 2026 · ~1 min read

Key Changes

• high

  Scilex committed to invest $120M in Datavault AI to deploy quantum-ready GPU infrastructure across ~100 U.S. cities, with payments through December 2026. This represents a major strategic pivot from pharmaceutical operations into AI/quantum computing infrastructure.

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• high

  In return, Scilex receives tiered revenue participation: 30% of network revenues until collecting $250M, then 15% until reaching $1.2B total, then 5% for remaining GPU lifetime. Returns depend entirely on Datavault's ability to generate revenue from the infrastructure.

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• high

  Transaction may not close at all. Completion requires definitive agreements, regulatory approvals, and Datavault meeting unspecified operational and financial milestones. Company warns of significant execution risk.

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