On Monday, Anthropic’s latest regulatory filing revealed a sharp increase in revenue in its third quarter alongside widening losses and nearly $895.4 billion in infrastructure commitments.
Meanwhile, Marvell Technology agreed to acquire Lumentum in an all-stock deal valued at approximately $115 billion, highlighting the growing demand for AI data-centre infrastructure.
In commodities, oil prices fell sharply on hopes of progress in US-Iran peace talks, while gold rebounded from a one-year low as easing crude prices reduced inflation concerns.
Anthropic’s Q3 revenue jumps twelve-fold as losses widen
Anthropic reported nearly $17 billion in third-quarter revenue, representing a twelve-fold increase from the same period last year, according to an amended Form S-1 filing with the US Securities and Exchange Commission.
However, the company behind the Claude AI platform reported a net loss of $23.3 billion, compared with $12.1 billion a year earlier.
Operating expenses increased 292% to $17.5 billion.
The filing also disclosed approximately $895.4 billion in purchase commitments and lease agreements, largely related to computing infrastructure.
Around $448 billion of these commitments are expected before the end of 2030.
Anthropic filed for an initial public offering on October 26 and plans to list on the Nasdaq Global Select Market under the ticker ANT.
Goldman Sachs and Morgan Stanley are leading the offering.
Marvell agrees to acquire Lumentum in $115 billion deal
Marvell Technology agreed to acquire data-centre optics maker Lumentum in an all-stock transaction valued at approximately $115 billion, including debt.
Under the agreement, Lumentum shareholders will receive 4.5 Marvell shares for each share they own.
The transaction values Lumentum at approximately $1,132 per share, representing a 24% premium to its October 28 closing price.
The acquisition will expand Marvell’s presence in AI infrastructure by combining its custom chips and networking processors with Lumentum’s optical connectivity technologies.
Marvell CEO Matt Murphy said AI infrastructure was undergoing a fundamental shift towards optical connectivity, creating a significant opportunity for the combined business.
However, the transaction has raised concerns about valuation, shareholder dilution and regulatory approval.
Both US and Chinese authorities will need to review the deal.
Oil prices fall as US-Iran peace talks raise supply hopes
Oil prices dropped more than 7% on Monday as diplomatic developments involving Iran and Qatar raised hopes of progress towards ending the US-Israeli war with Iran.
Brent crude futures fell 7.87% to $104.50 a barrel, while US West Texas Intermediate crude declined 7.7% to $96.08.
Iranian President Masoud Pezeshkian said Supreme Leader Ayatollah Mojtaba Khamenei had granted the government certain authorities regarding peace negotiations.
The discussions followed several weeks of concerns about shipping disruptions through the Strait of Hormuz and attacks on oil tankers.
However, analysts cautioned that a diplomatic breakthrough remained uncertain.
UBS analyst Giovanni Staunovo said the oil market continued to react sensitively to developments in the Middle East.
Goldman Sachs warned that Brent could reach $140 in 2027 if Gulf oil production remained 3.5 million barrels per day below its 2025 average.
Gold rebounds as falling oil prices ease inflation concerns
Gold prices recovered on Monday, rising nearly 2% after hitting a one-year low in the previous session.
Spot gold gained 1.93% to $3,949.90 per ounce, while US gold futures for December delivery rose 1.69% to $3,964.10.
The rebound followed a sharp decline in oil prices, which helped ease concerns about inflation and the potential impact on US interest rates.
Investors are also monitoring the November 3 US midterm elections for potential implications for fiscal policy and market sentiment.
Spot silver climbed 2.97% to $50.55 per ounce, while platinum gained 1.2% to $1,448.35. Palladium remained broadly steady at $976.13.
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