Tech Down as Marvell Deal Fails to Quell AI Worries - Tech Roundup
Shares of technology companies fell as a blockbuster artificial-intelligence deal failed to quell fears about the sustainability of the AI boom.
Chip-maker Marvell Technology agreed to buy optical-technology maker Lumentum for about $80 billion in stock, seeking to build a diversified provider of AI hardware. Both Lumentum and Marvell lost more than 15% of their value after the deal was unveiled.
Shares of CoreWeave fell to 52-week lows as traders continued to question the cloud-computing firm's ability to repay increasingly onerous data-center development debt.
Similarly, Oracle shares slid after the software maker detailed plans to raise $20 billion in debt and equity sales, spurring further fears about its AI infrastructure outlays.
OpenAI has raised less than half of the $30 billion it had initially targeted for its latest funding round, with market jitters over the AI trade dampening investor appetite.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
November 02, 2026 17:16 ET (22:16 GMT)
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