Anthropic IPO, Marvell Eyes a Trillion, and Two Biotech Phase 3 Failures

The biggest names in AI are all heading for the public markets at the same time. Anthropic filed its IPO. OpenAI is preparing its own filing. SpaceX debuts next week. And Alphabet decided this was a good moment to raise $80 billion.

Marvell hit an all-time high in the middle of all of it. Today's edition covers every move worth knowing.

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A major holder sold $52.8 million worth of stock in a digital advertising name near its 52-week high, while investment entities tied to a tech hardware giant filed proposed sales worth more than $273 million after a 331% one-year run. You’re seeing two stocks that already moved. Insider readers are seeing where big holders are using momentum to turn paper gains into cash.

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Stocks were mixed today as AI enthusiasm collided with fading Iran deal optimism, with Polymarket traders pricing just a 27% chance of a deal by the end of June, down from 75% on May 23. Marvell Technology hit an all-time high after reporting strong quarterly results and outlining a path where its data center interconnect business doubles by 2028.

Anthropic filed confidentially for its IPO in what is expected to be one of the largest offerings ever, while Alphabet separately announced plans to raise $80 billion to fund AI infrastructure, including $10 billion from Berkshire Hathaway.

HPE shares soared after the server company reported AI-driven demand growth, adding to a session where the gap between AI winners and everyone else kept widening.

USA Rare Earth (NYSE: USAR) just committed $1.2 billion to build a magnet and rare earth metals factory in South Carolina. The facility targets 6,400 tonnes of magnets and 5,000 tonnes of rare earth metals annually.

Construction begins in months, with commissioning targeted for 2028. China controls roughly 90% of global rare earth processing. This company is building the American alternative.

These Materials Are in Everything That Matters

Fighter jets. Electric vehicle motors. Wind turbines. Medical equipment. Semiconductors. AI hardware. Every one of these industries depends on rare earth magnets. Almost all of them currently source from China. That dependency is a national security vulnerability that Washington has been trying to fix for years.

USA Rare Earth is now backed by $1.6 billion in government funding for a separate Texas facility, in addition to this $1.2 billion South Carolina investment. You do not attract that level of government support unless the mission is considered strategically essential.

Domestic Supply Changes the Power Dynamic

Building rare-earth capacity in America means that defense contractors, automakers, and energy companies stop relying on a single foreign source for their most critical components. That shift takes years, but every new facility accelerates the timeline.

USA Rare Earth is still small compared to the industries it serves. But the combination of government backing, multiple facilities under construction, and a customer base that includes defense and aerospace gives it a trajectory that you rarely see in a company this young.

Alphabet Inc (NASDAQ: GOOGL)  just announced plans to raise $80 billion by selling shares, including $10 billion directly to Berkshire Hathaway. The money goes toward AI infrastructure. The company expects to spend up to $190 billion this year alone on building the computing power its AI services demand.

Google generates enormous profits. The fact that it still needs $80 billion in external funding tells you exactly how massive the AI buildout has become.

Berkshire Hathaway Joins the Story

Warren Buffett's firm buying $10 billion worth of Alphabet shares adds a layer that goes beyond financing. Berkshire is famously selective. That commitment signals a level of confidence in Google's long-term trajectory that carries weight far beyond the dollar amount.

When the most disciplined investment firm in history puts $10 billion behind your AI strategy, it validates the entire thesis.

The Biggest Spender Gets Even Bigger

Google and its peers are collectively spending over $700 billion on AI this year. Alphabet's $80 billion raise ensures it does not fall behind in a race where slowing down means losing ground permanently.

You watch Google go from self-funding everything to raising the largest equity capital in its history, and the conclusion is simple. AI infrastructure is now so expensive that even the richest companies on earth need help paying for it.

SpaceX may be heading toward a historic IPO.

But Louis Navellier says the better opportunity could be a little-known AI hardware firm Elon Musk used to help power his massive supercomputer.

Now, major tech giants are using similar technology as AI spending surges.

And because this company is reportedly 39X smaller than SpaceX, investors may still have time before Wall Street catches on.

See the AI stock Louis believes could run before the SpaceX IPO.

Bumble (NASDAQ: BMBL) is making a major company move by launching a paid group-dating feature called Plans in New York. The feature brings small groups of users together for in-person meetups, giving Bumble a new way to move beyond endless swiping and into real-world dating experiences.

For Bumble, the bigger story is direction. Dating apps have struggled with fatigue, lower engagement, and users who feel stuck in repetitive match-and-message loops. Plans give the company a chance to make the app feel more active, social, and useful again.

Paid Plans Add a New Layer

Charging users to join a Plan interestingly changes the business model. It adds a new revenue stream while also filtering out people who are not serious enough to attend.

That could make the experience feel more intentional. A paid event gives Bumble a cleaner way to connect people without relying only on subscriptions or in-app boosts.

Real Life Becomes the Product

Bumble is testing whether its future sits beyond matches and messages. If users respond well, group dating could become a bigger part of how the company builds community and keeps people engaged.

A feature like this changes your read on Bumble’s next chapter. Instead of fighting only in the dating-app lane, Bumble is trying to build a bridge between digital discovery and real-life connection.

If this works nationally, you get a company with a more complete dating model, not just an app that starts conversations.

Marvell Technology [MRVL] $290.75 (+32.77%)

Marvell just hit an all-time high, and the WSJ is calling it the next potential trillion-dollar company. It helps hyperscalers build custom AI chips to reduce their Nvidia dependence, which is exactly the product every major tech company wants right now.

The data center interconnect business is set to double by 2028. This run has real earnings underneath it.

Aehr Test Systems [AEHR] $113.19 (+20.90%)

Aehr builds the machines that burn in and test AI chips at the package level, and just posted Q4 fiscal 2026 results alongside a record $41 million follow-on production order from its lead hyperscale customer. Revenue growth is accelerating as AI chip volumes scale.

The company has moved from a sleepy semiconductor testing niche into one of the more important supply chain positions in AI hardware.

NCS Multistage [NCSM] $55.60 (+19.54%)

NCS Multistage missed Q1 badly in April, cutting revenue guidance and sending the stock down 27% in a single session. Today is the bounce. Volume at 6x average and relative volume of 6.34 confirm this is not a random tick but an active reinvestment decision.

A buy signal at current levels with the stock still 38% off its 52-week high and an 8x earnings multiple that reflects genuine value.

Celcuity [CELC] $91.41 (-25.66%)

Celcuity released positive Phase 3 VIKTORIA-1 data for gedatolisib today, cutting disease progression risk by 50% and nearly doubling progression-free survival in PIK3CA-mutated breast cancer.

The stock fell anyway. Wall Street had priced in a slam dunk ahead of the July 17 FDA PDUFA date, and "strong but not perfect" is the wrong answer at this valuation.

AEVEX Aerospace [AVEX] $32.41(-16.06%)

AEVEX ran hard on Pentagon drone funding excitement and is now giving back gains as drone sector momentum cools. No fresh negative catalyst. Last week's WSJ report on potential government drone investment was the fuel.

This week is the hangover. The defense drone thesis is real. Momentum names just test your patience on the way down.

Praxis Precision Medicines [PRAX] $258.08 (-23.00%)

Praxis's POWER1 Phase 2/3 study for vormatrigine in focal onset epilepsy missed its primary endpoint, and the company is pausing enrollment in the companion POWER2 study while it reassesses the program.

The good news is that 90% of patients rolled into the open-label extension, suggesting real-world engagement with the drug. The bad news is that primary endpoints exist for a reason.

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