Good morning, you're tuned in to Markets Desk, let's get you caught up on what's moving.
Marvell Technology is taking a hit in premarket, shares down roughly eight percent despite posting thirty-seven percent revenue growth in its latest quarter. The problem is guidance — investors came in expecting fiscal twenty-twenty-eight projections that would justify the stock's premium, and the outlook simply didn't deliver. When the bar is set that high, a beat on the top line isn't enough.
Shifting to the broader AI infrastructure trade, there's an interesting data point out of the trucking sector. Freight carriers are finally climbing out of a multi-year recession, and data-center construction is a meaningful driver. The buildout of AI infrastructure requires enormous volumes of materials and equipment moved by road, and that physical demand is translating into real pricing power for truckers who had been squeezed for years.
Meanwhile, in private markets, Anthropic is now trading on tokenized perpetual futures platforms, with implied valuations approaching two trillion dollars. Not every institutional fund manager is buying that number — the company remains pre-profitability — but the fact that price discovery is happening in tokenized markets at all signals how quickly alternative liquidity mechanisms are maturing around private AI names.
That's the tape. Markets Desk, signing off the floor.
