Marvell Technology fell 7.7% in after-hours trading on Wednesday, to $232.39 from a $251.65 close, after Bloomberg reported the chipmaker is in advanced talks to buy Lumentum Holdings. Lumentum went the other way, up about 10% to roughly $1,008 from $913.95. Neither company has confirmed anything. No price, premium or payment mix has been reported. An announcement could come as … [Read more...] about Marvell Falls 8% on Lumentum Takeover Talks Because the Deal Can Only Be Paid in Stock
AI infrastructure
Seagate, Teradyne and Corning Beat on AI Demand and Two of Them Still Fell
Three suppliers to the AI build-out reported third-quarter numbers on Tuesday. Hard drives, chip testers and optical fiber. All three grew fast. The market still punished two of them, which says more about expectations than about the businesses. Seagate: a 61% jump and record margins Seagate's fiscal first-quarter revenue came in at $4.23 billion, up 61% on a year ago and … [Read more...] about Seagate, Teradyne and Corning Beat on AI Demand and Two of Them Still Fell
Tenstorrent Raises $1.5 Billion at a $6.2 Billion Valuation and Bets on Selling AI Chips at Every Size
Tenstorrent has closed a $1.5 billion Series E at a $6.2 billion post-money valuation. Trace Capital and Innovation X led the round. The Santa Clara company, run by chip architect Jim Keller, roughly doubled its valuation from the previous round. The investor list is the interesting part. Fidelity, T. Rowe Price, Morgan Stanley and ARK Invest sit next to trading firms Virtu … [Read more...] about Tenstorrent Raises $1.5 Billion at a $6.2 Billion Valuation and Bets on Selling AI Chips at Every Size
