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First Thing Today: See Why (EVTV) is at the Top of Our Screen

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Market Maven Insights Just Put (EVTV) On This Morning’s Watchlist—Tuesday, June 2, 2025

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June 2, 2026
First Thing Today: See Why (EVTV) is at the Top of Our Screen

Dear Reader,

Some of the most interesting market stories emerge when a company begins operating in a completely different lane than the one most people remember.

That appears to be the case with Envirotech Vehicles, Inc. (Nasdaq: EVTV).

While many still associate the company with commercial electric vehicles, recent developments suggest a much broader strategy is beginning to take shape around AI infrastructure, compute deployment, power capacity, and data center operations.

Over the past several months, (EVTV) has announced a series of initiatives tied to AZIO AI, including enterprise compute deployments, infrastructure expansion projects, secured power assets, and a definitive merger agreement that could significantly transform the company's future business model.

Most recently, (EVTV) and AZIO AI executed a definitive merger agreement designed to create a U.S.-focused AI infrastructure platform. According to the companies, AZIO AI has reported more than $118M in customer deposits, approximately 11 megawatts of identified power capacity, and a transaction framework carrying an approximate $750M valuation.

Another factor worth watching is the company's share structure. According to publicly available market data, fewer than approximately just under 13M shares are currently listed as available to the public.

Despite these developments, shares continue to trend near the $2 range, leaving the story largely beneath broader market attention for now.

But with artificial intelligence infrastructure remaining one of the market's most closely watched themes, and with multiple deployment, merger, and expansion milestones continuing to unfold, (EVTV) has rapidly moved toward the top of our watchlist this morning, Tuesday, June 2, 2026.

The story the market is evaluating today looks very different from the company many originally came to know.

And that transformation is exactly what has our attention.

From Commercial EVs To AI Infrastructure: The Evolution Of (EVTV)

Envirotech Vehicles, Inc. (EVTV) is evolving beyond its commercial electric vehicle roots as it pursues a strategy centered on artificial intelligence infrastructure, enterprise compute, and energy-backed data center development.

The company's latest initiatives center around its proposed merger with AZIO AI, an AI infrastructure company involved in GPU and server rack distribution, AI data center development, compute leasing, and energy-supported infrastructure projects. According to recent company announcements, the transaction would reposition (EVTV) as a U.S.-focused AI infrastructure and compute platform targeting one of the fastest-growing segments of the technology market.

Recent updates indicate that AZIO AI has received approximately $118M in customer deposits tied to infrastructure orders, commenced hardware deliveries, and secured approximately 11 megawatts of power capacity while evaluating additional expansion potentials. Management has also discussed long-term plans involving AI compute deployments, data center infrastructure, hosting operations, and energy-backed technology assets.

The proposed merger values AZIO AI at approximately $750M and is intended to create a diversified platform spanning AI infrastructure, enterprise compute, data center development, hosting services, and related energy-supported operations.

Today, the company's focus appears to be expanding toward AI infrastructure, compute deployment, and data center development, creating exposure to several of the fastest-growing areas within the technology sector.

Why The AI Infrastructure Boom Could Be Relevant To (EVTV)

Demand for AI compute power, data center capacity, and supporting infrastructure continues growing rapidly as organizations race to deploy next-generation artificial intelligence technologies.

According to Goldman Sachs Research, global data center power demand is projected to increase by approximately 165% between 2023 and 2030, driven largely by the rapid adoption of generative AI and high-performance computing workloads.

At the same time, McKinsey estimates that global demand for AI-ready data center capacity could require hundreds of billions of dollars in infrastructure investment over the coming years as enterprises, governments, and cloud providers race to secure compute resources.

This environment has created growing demand for several of the areas (EVTV) is now targeting through its proposed AZIO AI merger, including AI compute infrastructure, GPU deployment, energy-backed data centers, hosting services, and enterprise-scale computing capacity.

Another important factor is power availability. As AI models become larger and more compute-intensive, access to low-cost electricity is increasingly becoming one of the most valuable assets in the data center ecosystem. Recent company updates indicate AZIO AI has secured approximately 11 megawatts of power capacity while evaluating additional expansion potentials tied to future deployments.

As AI adoption continues spreading across enterprises, governments, and institutional users, the demand for compute infrastructure, energy capacity, and data center assets is expected to remain a major theme throughout the remainder of the decade.

Recent Developments Putting (EVTV) On Our Radar

Transformational Merger Agreement: The company recently executed a definitive merger agreement with AZIO AI, a transaction designed to expand its presence across AI infrastructure, compute deployment, and data center operations. The agreement carries an approximate $750M valuation.

$118M Infrastructure Pipeline: AZIO AI reported receiving customer deposits associated with an approximately $118M infrastructure order, while initial deliveries under the program have already commenced. Management cited the deposits as evidence of customer commitment and commercial traction.

NVIDIA B200 Deployments Underway: Recent updates disclosed that AZIO AI has begun deliveries of NVIDIA B200 GPU systems and successfully delivered the first eight server racks under customer deployment programs, highlighting operational progress in AI compute infrastructure.

Power Capacity Expansion: Management disclosed that approximately 11 MW of power capacity has been identified at the company's South Texas site, with hardware already ordered for an initial 6 MW deployment. The company is also evaluating rights to up to 500 MW of additional future capacity.

South Texas Infrastructure Deployment Advancing: (EVTV) recently announced plans to deploy approximately 6 MW of modular digital infrastructure supported by an estimated $0.03/kWh behind-the-meter power cost structure, while fiber connectivity expansion remains underway to support future AI compute operations.

Leadership & Advisory Board Expansion: AZIO AI announced the appointment of Andreessen Horowitz partner Andrew Omori to its advisory board, further strengthening leadership ahead of the proposed merger.

7 Factors Putting (EVTV) At The Top Of Our Watchlist This Morning — Tuesday, June 2, 2026

1. Strategic Evolution: The company is pursuing a transition into AI infrastructure, compute capacity, and data center-related operations.

2. Underfollowed Profile: Despite several recent announcements, the story still appears to be largely flying beneath broader market attention.

3. $118M In Customer Deposits: Recent disclosures highlighted customer commitments tied to an approximately $118M infrastructure pipeline.

4. Compute Infrastructure Progress: Initial deployments and hardware deliveries have already commenced.

5. Power Capacity Advantage: Management has identified approximately 11 MW of power capacity with additional expansion potential under review.

6. Large-Scale Transaction: The proposed AZIO AI combination carries an approximate valuation of $750M.

7. Tight Share Structure: Fewer than approximately 13M shares are currently listed as available to the public, according to publicly available market data.

Pull Up (EVTV) While It’s Still Early…

The picture that appears to be emerging around (EVTV) today looks very different than it did just a few months ago.

A proposed AI infrastructure transaction, an approximately $118M customer pipeline, active compute deployments, and expanding power capacity initiatives are all beginning to point toward a broader growth strategy centered on digital infrastructure.

Despite these developments, the company remains relatively underfollowed and continues to operate with a limited public float compared to many of the larger names attracting attention across the AI sector.

With multiple infrastructure, deployment, and transaction-related milestones still ahead, (EVTV) has earned a place near the top of our watchlist this morning.

We'll be monitoring (EVTV) closely throughout today's session.

Take a closer look while the story continues to develop.

And keep an eye on your inbox, our next update could arrive at any moment.

Sincerely,
Tate Remington
Chief Editor, Market Maven Insights

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