6. Datavault AI Inc. (NASDAQ:DVLT)
Datavault AI Inc. (NASDAQ:DVLT) earns a place on our list of the most popular AI penny stocks to buy under $2.
Datavault AI Inc. (NASDAQ:DVLT) appears to be accelerating its transformation, announcing a fresh $60 million raise, which follows a strategic acquisition and early-stage U.S. infrastructure rollout.
On May 3, 2026, Datavault AI Inc. (NASDAQ:DVLT) announced a registered direct offering of about 109.1 million shares of common stock, raising approximately $60 million. The offering is scheduled to close on May 5, 2026, through a definitive agreement with institutional investors.
With that move, Datavault AI Inc. (NASDAQ:DVLT) plans to invest in building its advanced computing network designed for AI and future quantum compatibility, including facility construction and equipment purchases. The funds will also be allocated toward day-to-day business expenses. The company’s CEO, Nathaniel T. Bradley, said the financing will help the company expand its AI-related systems and operations into more locations to address rising demand for high-performance AI compute capacity.
Even before this deal materialized, the company had already begun its expansion efforts.
On May 1, 2026, Datavault AI Inc. (NASDAQ:DVLT) added new advanced cybersecurity tools powered by AI to its business with an all-stock CAD $136.8 million acquisition of CyberCatch Holdings. The new suite of tools can simulate cyberattacks and track compliance with regulations in real time and includes security designed to tackle future quantum computing threats.
The acquired technology will be used throughout the company’s systems and will be embedded in its quantum-ready edge network—across the Information Data Exchange (IDE) and AI analytics ecosystem, systems will work together as one secure platform.
Thus, Datavault AI Inc. (NASDAQ:DVLT) appears to be building a system where it controls multiple layers spanning edge computing, data monetization, and cybersecurity, having already announced the rollout of its New York and Philadelphia edge network earlier in the year. With the new $60 million funding, management aims to actually enable the plan to move forward faster.
Datavault AI Inc. (NASDAQ:DVLT) focuses on delivering AI-driven data valuation and monetization solutions in Web 3.0. It combines acoustic technologies and data science platforms for spatial audio, analytics, and secure high-performance computing applications.
While we acknowledge the potential of DVLT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DVLT and that has 100x upside potential, check out our report about the cheapest AI stock.
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