OpenAI Can't Hit Its Target
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- Published
- November 2, 2026
- Duration
- 21:24
- Summary source
- description
- Last updated
- Nov 2, 2026
Discusses openai, anthropic.
Summary
OpenAI cut its funding round to about $20B at a $1.25T valuation as the AI selloff spooked investors. Anthropic’s S-1 showed nearly $17B in quarterly revenue, Marvell agreed to buy Lumentum for $115B, and Claude Code got game-cloning limits. Sources: OpenAI now seeks ~$20B at a $1.25T valuation for its latest round, from $30B at a $1.4T valuation, as some…
OpenAI's funding round shrinks to $20B as AI sell-off spooks investors, Anthropic files for IPO with explosive revenue growth, Marvell bets $115B on Lumentum, and Claude Code blocks game cloning.
Key takeaways
- OpenAI's funding round shrank from $30B to ~$20B at a $1.25T valuation as AI market sentiment soured, with neo-cloud companies like Coreweave, Nebius, and NScale effectively shut out of bond markets amid investor demands for tougher terms.
- Anthropic's updated S1 revealed a 12x year-over-year quarterly revenue surge to ~$17B, but the company swung back to an operating loss of $567M in Q3 driven by $5B in compute costs and $12B in non-cash charitable donation charges.
- Marvell's $115B all-stock acquisition of Lumentum signals a major consolidation bet on AI optical connectivity infrastructure, positioning the combined entity to rival Broadcom in custom AI chip and data center networking markets.
Why this matters
The simultaneous tightening of AI capital markets, record-scale M&A activity, and emerging IP guardrails in AI coding tools signal that the AI infrastructure buildout is entering a more disciplined, risk-scrutinized phase that will reshape vendor selection, investment strategy, and developer tooling decisions for enterprise technology buyers.
Entities
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OpenAI Can't Hit Its Target
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November 2, 2026
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Show notes
OpenAI cut its funding round to about $20B at a $1.25T valuation as the AI selloff spooked investors. Anthropic’s S-1 showed nearly $17B in quarterly revenue, Marvell agreed to buy Lumentum for $115B, and Claude Code got game-cloning limits. Sources: OpenAI now seeks ~$20B at a $1.25T valuation for its latest round, from $30B at a $1.4T valuation, as some investors cut commitments amid an AI selloff (Financial Times) Anthropic’s updated S-1 shows Q3 revenue of nearly $17B, up from $1.4B a year a
Themes
- openai
- anthropic