Key insights
- Amazon's increased investment in Anthropic is boosting AI-related stocks like Marvell. Apple's succession plan announcement is causing a slight after-hours dip. AXT's stock offering is leading to a significant price decline. Overall, the news has a slightly positive influence due to Amazon's AI investment.
After-hours movers:
Amazon (AMZN) rose 2.3% after it announced it will invest $5 billion in AI company Anthropic immediately and up to an additional $20 billion tied to commercial milestones, expanding their existing partnership. This follows Amazon’s previous $8 billion investment in Anthropic.
Marvell Technology (MRVL) rose 2.75% after Amazon’s pact with Anthropic.
Apple (AAPL) fell 0.6% after Apple announced that Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple’s next chief executive officer effective on September 1, 2026.
AXT, Inc. (AXTI) fell 9% after it announced today that it intends to offer and sell shares of common stock in a public offering.