Afternoon Alexa Flash Briefings of November 02 2026

Anthropic is giving investors a closer look at its finances as it prepares for a potential blockbuster IPO. The AI company reported third-quarter revenue of $16.8 billion, up 45% from the previous quarter, and said it was profitable on an adjusted basis. Its first-half financials show revenue of $16.3 billion, but also an $80.7 billion net loss. Largely driven by a massive non-cash accounting charge tied to the rising value of its financing agreements. The disclosures offer investors a clearer picture of Anthropic's explosive growth and the enormous costs and financial risks behind the AI boom. Oracle is planning to raise $20 billion through a combination of stock and bond offerings to help finance its massive AI and cloud infrastructure expansion. The fundraising includes $10 billion in new shares and $10 billion in debt as the company races to build the computing capacity needed to serve major AI customers. Oracle says the money could also support capital spending, debt repayment, acquisitions, and other corporate needs. The move comes as Oracle faces mounting scrutiny over its borrowing spending and ability to turn its enormous AI commitments into profits. Marvell Technology is acquiring optical technology company Lumentum in an all-stock deal with an implied enterprise value of approximately $115 billion. Lumentum shareholders will receive 4.5 shares of Marvell's stock for each share they own, giving them roughly 33% of the combined company. The deal brings together Marvell's semiconductor and networking technology with Lumentum's lasers and optical components. which are increasingly critical to connecting powerful AI data centers. The companies are betting that demand for faster, more energy-efficient AI infrastructure will make optical connectivity one of the industry's biggest growth markets. Binance has begun restoring withdrawals after a record-breaking $6.3 billion security breach linked to North Korean hackers. The world's largest crypto exchange initially suspended withdrawals while it strengthened security, but began bringing services back in phases, starting with 15 digital currencies including Bitcoin, Ethereum, and Solana. Customers pulled approximately $3.64 billion from the platform, representing 2.1% of its assets, as the exchange worked to reassure users. Binance says it has covered about 95% of the stolen assets and will absorb the financial impact rather than pass losses on to customers. The incident is testing confidence in one of crypto's biggest exchanges as it works to restore normal operations.