3 Major AI Developments Making Headlines Today

Tech stocks are bouncing back Monday after last week's selloff, which was fueled by growing investor concerns over massive AI infrastructure spending. Several big-name tech stocks are sitting out the rebound, however, including two at the center of major AI developments making headlines today.

Marvell Stock Slides After $115 Billion Acquisition

Marvell Technology Inc (NASDAQ:MRVL) is down 6.3% to trade at $184.08 at last check, after announcing plans to acquire optical components maker Lumentum (LITE) in an all-stock deal. The deal is valued at $115 billion, with the chipmaker looking to expand its optical connectivity capabilities amid growing demand from AI data centers. Nvidia (NVDA) invested $2 billion in both companies earlier this year. Though now trading at its lowest level since August, MRVL is still up 116.7% year to date. 

Oracle Stock Drops as Company Seeks $20 Billion

Oracle Corp (NYSE:ORCL) is down 6.2% to trade at $122.59, after the company filed plans to raise $20 billion to fund its AI infrastructure expansion. The software giant plans to issue $10 billion in common stock and another $10 billion in bonds. Though Oracle outlined the fundraising plans at last week's investor day, investors remain concerned about the company's mounting debt as it pours money into AI infrastructure. Since the start of the year, ORCL is off 36.8%. 

Anthropic Updates IPO Filing With Q3 Financials

Meanwhile, AI startup Anthropic released an amended Form S-1 filing with the Securities and Exchange Commission (SEC), bringing its highly anticipated initial public offering (IPO) another step closer.

The company reported $33.24 billion in revenue for the nine months ended Sept. 30, up roughly 1,200% from the same period last year. However, Anthropic also reported a $104 billion net loss, compared to a $25.1 billion loss in the year-ago period. The company is expected to trade on the Nasdaq under the ticker ANT, though an official IPO date has not yet been announced.