Datavault AI
Datavault AI is a NasdaqNasdaqNasdaq is an exchange operator and financial technology company headquartered in New York. It runs The Nasdaq Stock Market and other markets and provides capital markets technology, regulatory technology, and data and index services. Founded in 1971, it combined with OMX AB in 2008, and in March 2026 the U.S. Securities and Exchange Commission approved its rules for trading tokenized securities.Open the full entry-listed American technology licensing company with data science and acoustic science businesses, headquartered in Philadelphia, Pennsylvania. Formed in 2010, it operated in wireless audio as Summit Semiconductor, Summit Wireless Technologies and WiSA Technologies before taking its current name in February 2025. In October 2026 it disclosed that, since a June 2026 request, it had been unable to withdraw bitcoin tied to an equity deal with Scilex HoldingScilex Holding CompanyScilex Holding Company is a Nasdaq-listed pharmaceutical company headquartered in Palo Alto, California, that acquires, develops and commercializes non-opioid pain management products, including ZTlido, ELYXYB and GLOPERBA. It went public in November 2022 through a business combination with Vickers Vantage Corp. I, when Sorrento Therapeutics owned more than 96% of it. In September 2025 it exchanged shares of its majority-owned subsidiary Semnur Pharmaceuticals with Biconomy for bitcoin and used $150 million in bitcoin to buy Datavault AI shares; in October 2026 Datavault AI said it would record the deal as a subscription receivable and restate its financial reports.Open the full entry from a BiconomyBiconomy.comBiconomy.com is a cryptocurrency exchange established in October 2019, founded and led by Dmitriy Sheludko, that offers spot and derivatives trading among other services. In April 2024 the Alberta Securities Commission placed Biconomy Ltd., whose associated website is biconomy.com, on its Investment Caution List. In September 2025 Biconomy bought shares of Semnur Pharmaceuticals from Scilex Holding for bitcoin; Datavault AI, which held bitcoin in a Biconomy digital wallet, had still not completed by October 26, 2026, a withdrawal it requested in June 2026. A separate Web3 infrastructure project also uses the name Biconomy (biconomy.io).Open the full entry digital wallet, and that its financial statements from the third quarter of 2025 through the second quarter of 2026 should no longer be relied upon.
Contents11 sections
Key facts
2010–2017Formation and Conversion
The company was formed as a Delaware limited liability company on July 23, 2010, and converted to a Delaware corporation on December 31, 2017. Formerly known as Summit Semiconductor, Inc., it later became Summit Wireless Technologies, Inc.[1]
July 2018Nasdaq IPO
On July 27, 2018, Summit Semiconductor, Inc. priced its initial public offering of 2.4 million shares at $5.00 each, for gross proceeds of $12.0 million, under the Nasdaq symbol WISA.[2]
It then sold audio chips, modules and licensable IP and promoted the WiSA Association’s wireless audio interoperability standards.[2]
March 2022Renamed WiSA Technologies
On March 11, 2022, the company changed its name to WiSA Technologies, Inc.[3]
December 2024Purchase of Data Vault Holdings’ Assets
On December 31, 2024, WiSA Technologies closed its purchase of Data Vault Holdings Inc.’s intellectual property and IT assets for 40 million restricted shares, a $10 million three-year note and a 3% royalty on the related product lines.[4]
Nathaniel T. Bradley became chief executive and a director, and Brett Moyer became chief financial officer.[4]
February 2025Renamed Datavault AI
In February 2025 WiSA Technologies became Datavault AI Inc., changing its ticker from WISA to DVLT on February 14; it was then based in Beaverton, Oregon.[5]
It had a Data Science division licensing data management software and an Acoustic Science division licensing sound technology under brands including ADIO and WiSA.[5]
September 2025–January 2026Scilex’s Bitcoin Share Purchase
On September 26, 2025, the company closed the first tranche of a $150 million bitcoin investment by Scilex Holding, which received 15 million shares and could receive up to 278,914,094 shares at $0.5378 each.[6]
Scilex credited 1,309.04 bitcoin off-chain to the company’s Biconomy wallet in September and November 2025.[7]
By January 2026 the company had sold part of the bitcoin back to Scilex for about $40.5 million in cash.[8]
March 2026Fiscal 2025 Results
On March 19, 2026, the company announced fiscal 2025 revenue of $39.1 million and a net loss of about $79.0 million, with crypto assets of about $92.2 million at year-end.[9]
Vivasor, Inc. and Scilex accounted for 51% and 26% of 2025 net revenue.[3]
June 2026Bitcoin Sale Term Sheet and Withdrawal Request
On June 24, 2026, the company signed a term sheet to sell Scilex the 837 bitcoin in its Biconomy wallet for $50 million, $30 million up front and the rest in installments through 2028, subject to a definitive agreement.[10]
That month the company asked to withdraw the bitcoin in its Biconomy wallet to an external account; as of October 26 the withdrawal had not been completed.[8]
October 2026Non-Reliance on Prior Reports
On October 20, 2026, the company concluded that four reports from the third quarter of 2025 to the second quarter of 2026 were unreliable because the bitcoin did not qualify as a digital asset and should be recorded as a subscription receivable.[7]
The company expected the restatements to cut total assets by as much as $92.2 million and was reassessing its going-concern evaluation.[8]
On October 27, DVLT shares fell 49.55% to $0.067.[11]
Business: Data Sciences and Acoustic Sciences
Data Sciences includes the Data Vault, DataValue and DataScore platforms; Acoustic Sciences includes ADIO data-over-sound and WiSA wireless audio.[3]
Sources
- Summit Wireless Technologies, Inc. Form 10-Q 2018 (opens in a new window)
- Summit Semiconductor, Inc. Announces Pricing of Initial Public Offering of Common Stock (opens in a new window)
- Datavault AI Inc. Form 10-K 2025 (opens in a new window)
- WiSA Technologies Closes Purchase of Data Vault Holdings' Assets and Names Nate Bradley CEO (opens in a new window)
- WiSA Technologies is Now Datavault AI Inc. (opens in a new window)
- Datavault AI Announces Closing of Initial Tranche Investment from Scilex Holding Company (opens in a new window)
- Datavault AI Inc. Form 8-K, October 26, 2026 (opens in a new window)
- Datavault AI stock plummets 50% after firm says it cannot withdraw bitcoin tied to $150 million deal (opens in a new window)
- Datavault AI Reports First Profitable Quarter, Record Revenue Growth, and Reiterates $200M (~400% YoY Growth) Full Year 2026 Revenue Target (opens in a new window)
- Datavault AI Inc. Form 8-K, June 29, 2026 (opens in a new window)
- Bitcoin Treasury Datavault AI Says It Can’t Access Its BTC, Stock Tanks (opens in a new window)