Enovix Corporation (ENVX) Confirms Results From Independent Lab For its AI-1 Battery

Enovix Corporation (NASDAQ:ENVX) is one of the Stocks to Buy Under $10 with High Potential. On January 13, Enovix Corporation (NASDAQ:ENVX) announced results from an independent lab confirming that its AI-1 smartphone battery achieved a volumetric energy density of 935 Wh/L.

Management noted that energy density surpasses a leading commercial silicon-doped competitor by roughly 100 Wh/L, thereby marking a significant milestone. The tests were conducted by Polaris Battery Labs, which is an independent battery testing firm. The trial was conducted in identical conditions, equipment, and procedures. The results validated Enovix Corporation’s (NASDAQ:ENVX) claims as AI-1 beat the leading smartphone battery by 12%.

Management noted that their patented architecture uses 100% active silicon anodes. This harnesses silicon’s superior energy storage while managing expansion in scalable formats. CEO of Enovix Corporation (NASDAQ:ENVX), Dr. Raj Talluri, noted that it was a significant improvement and highlighted that their AI-2 and AI-3 are expected to hit the market later in the decade.

Enovix Corp (NASDAQ:ENVX) designs and manufactures lithium-ion battery cells that have applications across mobiles, IoT, electric vehicles, and computing devices. These batteries are highly efficient with supreme thermal performance, and an architecture that allows for 100% active silicon anode for high energy density.

While we acknowledge the potential of ENVX 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 ENVX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.