Key insights
- Nvidia's $2B investment in Marvell signals confidence in AI infrastructure demand, potentially benefiting semiconductor and tech sectors. Biogen's acquisition of Apellis reflects a strategic shift towards rare disease treatments. Eli Lilly's purchase of Centessa expands its neuroscience portfolio, diversifying beyond weight loss drugs. These M&A activities suggest continued investment and growth within the pharmaceutical and technology sectors.
Yahoo Finance Senior Reporter Brooke DiPalma takes a closer look at some of Tuesday morning's trending tickers and stories, including some of the latest deals and investments.
Nvidia (NVDA) is investing $2 billion in Marvell (MRVL).
Biogen (BIIB) is buying Apellis Pharmaceuticals (APLS) for $5.6 billion.
Eli Lilly (LLY) is set to buy sleep-drug maker Centessa (CNTA) for up to $7.8 billion.
We're watching Nvidia and Marvel, Biogen and Apellis Pharmaceuticals and Eli Lilly and Syntessa. First up, Nvidia is investing two billion dollars in semiconductor company Marvel. The deal will connect Marvel's technology into Nvidia's AI factories and ecosystems. The partnership will also see the two companies work together on Silicon Phonetics technology, and a video CEO Jensen Wong added this tieup will make it easier for customers to leverage their AI infrastructure as AI demand continues to skyrocket.
Now, the investment also comes as amid a series of several two billion dollar investments by Nvidia on multiple technology companies in recent months. We'll keep a look out for that one. Next up, let's take a look at Biogen. It will buy Apellis pharmaceuticals for $5.6 billion. Apellis stock is soaring over three digits on the acquisition. The move reflects Biogen's push to expand its rare disease drug portfolio as revenue from its exclusive multiple sclerosis treatment winds down.
The deal will allow Biogen access to Apellis's treatments for rare kidney disease and rare blood disorder. Finally, staying in the farmer space, Eli Lilly will buy sleep drug maker Syntessa in a deal worth up to $7.8 billion. Shares in Tesa are surging as this also marks Eli Lily's largest acquisition since 2019. Now, Syntessa is developing medicine to treat sleep disorders including narcolepsy. The deal marks Lily's expansion into the neuroscience space as it seeks to diversify its drug portfolio in addition to its lucrative weight loss drugs.