What a Week! Anthropic Opens the Books, Intel Raises More Questions, Marvell and Lumentum??

Ben Bajarin and Jay Goldberg unpack a packed week for AI and semiconductors, starting with Anthropic’s S-1 and what it reveals about the cost of staying at the frontier. We discuss why enterprise AI adoption still has room to grow, what our latest CIO survey says about ROI, and why Anthropic wants more control over its compute infrastructure. Hyperscaler earnings raise a broader question: how much of that AI investment is improving the rest of their businesses? Then we turn to Intel’s disappointing guidance and the planning problems that keep pushing its recovery further out. We close with the reported Marvell–Lumentum talks and a debate over whether optical suppliers need to become part of larger networking companies to defend their position against Broadcom.