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Top Midday Stories: Anthropic Reportedly Agrees to $35 Billion Computing Deal With Lambda; GoPro to Merge With Starman Optical
All three major US stock indexes were down in late-morning trading Tuesday, as bond yields in the US and around the world rose in response to rising oil prices and inflation concerns.In company news, Amazon-backed (AMZN) Anthropic has agreed to a $35 billion computing deal with Nvidia-backed (NVDA) cloud provider Lambda, Bloomberg reported Monday, citing a person familiar with the matter. The project involves a Texas data center being developed by Hut 8, with Nvidia holding the lease, the report said. Amazon shares were down 2.0% around midday, while Nvidia shares were down 1.0%.GoPro (GPRO) and optical-photonics company Starman Optical said Tuesday they have signed a definitive merger agreement. Under the terms of the deal, GoPro shareholders will receive $1.14 per share, for a total of $285 million in cash and will retain a stake in the combined company of about 10%. GoPro's roughly $92 million of outstanding debt will be repaid in full at closing, the companies said. GoPro shares were up 43.8%.Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported Tuesday, citing people familiar with the matter. The two fields are located in the Carabobo region, which holds billions of barrels of heavy oil reserves, and are near a big field already operated by Chevron's PetroIndependencia joint venture with state-owned Petroleos de Venezuela, the report said, citing the people. Chevron shares were up 1.5%.Medtronic (MDT) reported fiscal Q1 adjusted earnings Tuesday of $1.45 per share, up from $1.26 a year earlier and above the FactSet consensus analyst estimate of $1.39. Fiscal Q1 revenue was $9.76 billion, up from $8.58 billion a year ago and above the FactSet consensus of $9.55 billion. For fiscal 2027, the company expects adjusted EPS of $5.94 to $6, compared with its previous guidance range of $5.90 to $6 and the FactSet consensus of $5.95. Separately, Medtronic said it formed a partnership with Cornerstone Robotics through which it will invest $700 million. Lastly, Medtronic will invest up to $80 million in Pi-Cardia and retain an option to acquire the company for up to $210 million if certain milestones are met, the companies said Tuesday. Medtronic shares were up 1.7%.Fervo Energy (FRVO) has signed a 396-megawatt power purchase agreement with Alphabet's (GOOG, GOOGL) Google, the company said Tuesday. Under the terms of the agreement, Google will buy energy from Fervo Energy's Cape Station geothermal project to power a potential data center in Utah, Fervo said. The agreement includes an option for Google to expand its offtake by about 600 megawatts by June 2030, the company said. Fervo shares were up 23.8%, while Google's Class C and Class A shares were down 0.7% and 0.9%, respectively.SpaceX (SPCX) has replaced several leaders responsible for building the company's data centers following some civil engineering concerns and reliability issues at facilities in Tennessee and Mississippi, The Information reported Tuesday, citing people familiar with the matter. The company has installed executives from its rocket and satellite internet businesses to oversee data center operations, the report said, citing the people. SpaceX shares were up 0.3%.Price: $1.25, Change: $+0.37, Percent Change: +42.78%
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