Tech Deals Tracker: Who Is Buying and Investing in Whom

Anthropic's IPO talk lands near OpenAI's $1.25T as Marvell signs a $115B deal

Updated November 7, 2026

This tracker logs who is buying and investing in whom across tech: acquisitions, funding rounds, IPOs and stake purchases. Each entry links to the report it came from, and the page is refreshed as new deals are announced or credibly reported.

Early November 2026: Anthropic's numbers meet the market as agent security draws buyers

Anthropic's amended S-1, reported on November 2, gave the market harder numbers to argue over: about $17 billion in third-quarter revenue against a $23.29 billion net loss, plus $895.4 billion in spending commitments. By November 6, after a sharp post-election sell-off, potential IPO investors were discussing $1.2T to $1.3T, with some looking as low as $1.1T, and Ramp data showed AI spending stalling even as usage climbs. OpenAI now sits in the same band without a listing. A November 6 report added another $11 billion to its unfinished round at $1.25T, well above the $852 billion it fetched in March, and Greg Brockman told a Wall Street Journal conference on November 4 that the company could be IPO ready in 2027. Private buyers are paying about what prospective public investors are debating for its rival, a comparison that gets tested once Anthropic prices.

The largest deal so far this month sits outside the AI labs. Marvell's planned $115B purchase of Lumentum, announced November 2, ranks among the biggest acquisitions in tech history and joins two companies that share Nvidia as a strategic investor. Fox closed its $22B Roku deal on November 6, a few months after DOJ investigators were probing it, and Crusoe sold its troubled Wyoming data center project to Google, a sign of how hard these giant sites are to build. More is still at the reported stage: SpaceX wants Boost Mobile, and The New York Times Company is said to be trying to buy Letterboxd for $330 million.

Among smaller deals the clearest pattern is agent security. CrowdStrike will pay nearly $500M for Fiddler AI and Dreadnode, and Palo Alto Networks is in talks to pay $500M for Clutch, last valued at $85 million according to a source. Specialist cybersecurity investors are raising for the same wave, with Ballistic Ventures seeking $490M and Brightmind Partners preparing a second fund of roughly $250 million. Elsewhere, Fal doubled its valuation to $16B, Zipline reached $21.5B and Revolut's share sale valued it at $115B, while Agility Robotics debuted on Nasdaq and Wonder filed for its IPO. Sequoia went the other way, announcing roughly $10 billion in new funds while closing programs and offices from 20 years of expansion, Scouts included.

26/08: $27.1B; 26/09: $26.7B; 26/10: $171.8B; 26/11: $3.2B

Funding: 64%; Acquisition: 22%; IPO: 7%; Investment: 5%; Stake: 1%; Merger: 1%

Paramount → Warner Bros. Discovery: $111B; DoorDash → Instacart: $17B; OpenAI-backed Thrive Holdings → ADT: $15.3B; Nvidia → Hugging Face: $12.9B; OpenAI (Funding): $11B; AMD → World Labs: $8.2B; Stripe → OpenRouter: $7B; Lambda (Funding): $4B; Nvidia → MediaTek: $3.5B; Re:Build (Funding): $2.1B

Key moments

2026-10-06 Paramount closes its Warner Bros. merger; 2026-10-26 Anthropic files its S-1; 2026-10-29 DoorDash agrees to buy Instacart; 2026-11-02 Marvell moves to buy Lumentum for $115B; 2026-11-02 Anthropic's amended S-1 adds third-quarter numbers; 2026-11-04 Sequoia shrinks back toward the Bay Area; 2026-11-06 Fox closes its $22B Roku purchase

Nov 6 — Fox closes its $22B Roku purchase: The deal went through a few months after DOJ investigators were probing it, putting a major streaming platform under Fox's ownership.
Nov 4 — Sequoia shrinks back toward the Bay Area: One of venture capital's best-known firms is closing programs and offices from a 20-year expansion even as it announces roughly $10 billion in new funds, a sign that scale alone no longer sets its strategy.
Nov 2 — Anthropic's amended S-1 adds third-quarter numbers: About $17 billion in quarterly revenue, a $23.29 billion net loss and $895.4 billion in commitments gave IPO investors and critics concrete figures to price and to attack.
Nov 2 — Marvell moves to buy Lumentum for $115B: The deal ranks among the largest acquisitions tech has seen, and it joins two companies that already share Nvidia as a strategic investor.
Oct 29 — DoorDash agrees to buy Instacart: DoorDash agreed to acquire grocery delivery service Instacart for $17B, the largest deal on this tracker in October after the Paramount–Warner close.
Oct 26 — Anthropic files its S-1: Anthropic officially filed for an IPO, putting its fast-rising revenue, mounting losses and founder-control governance in front of public investors for the first time.
Oct 6 — Paramount closes its Warner Bros. merger: Paramount completed its $111B Warner Bros. Discovery merger after a last-ditch effort to stop it failed, creating the media group Skydance.
Aug 16 — Stripe moves to buy OpenRouter: Stripe was reported to be acquiring AI gateway OpenRouter for more than $7B, a payments company buying the layer developers use to route traffic between models.

Key numbers

Marvell's planned purchase of Lumentum: $115B; Paramount–Warner Bros. Discovery merger (closed Oct 6): $111B; Fox's Roku acquisition (closed Nov 6): $22B; DoorDash's deal for Instacart: $17B; Thrive Holdings' deal for ADT: $15.3 billion; OpenAI valuation in its new round (Nov 6 report): $1.25 trillion

Marvell's planned purchase of Lumentum: $115B
Paramount–Warner Bros. Discovery merger (closed Oct 6): $111B
Fox's Roku acquisition (closed Nov 6): $22B
DoorDash's deal for Instacart: $17B
Thrive Holdings' deal for ADT: $15.3 billion
OpenAI valuation in its new round (Nov 6 report): $1.25 trillion
Revolut valuation in its new share sale: $115B
Anthropic co-founders' proposed combined vote: 50.1%

Deal log

Date	Type	Who	Target	Amount
Sep 16	IPO	May Mobility		$1.4B
Sep 17	Funding	Treble		$18 million
Sep 18	Funding	Manus		$500M
Sep 21	Funding	Corridor		$25M
Sep 21	IPO	Oura		$2.2B
Sep 22	Funding	Morphotonics		€40M
Sep 22	Funding	Nexstrom
Sep 24	Acquisition	Databricks	Row Zero
Sep 28	Acquisition	AMD	World Labs	$8.2 billion
Sep 28	Funding	MAVI		$4 million
Sep 28	Funding	Modulate		$25M
Sep 29	Funding	EliseAI		$350M
Sep 30	Investment	Valor, Atreides, and Sequoia	Flow Engineering
Sep 30	Funding	Neko Health		$700 million
Sep 30	Funding	OpenAI		$30 billion (sought)
Sep 30	Acquisition	Pearson	Workera
Oct 1	Funding	Satlyt		$8M
Oct 2	Acquisition	Supabase	Turso
Oct 6	Funding	Lambda		$4 billion
Oct 6	Funding	Melius		$20M
Oct 6	Investment	Benchmark	Furientis	$25M
Oct 7	Funding	Bloom		$3.6M
Oct 7	Funding	Endeavor Catalyst		$320 million
Oct 7	Funding	Healthleap		$38M
Oct 7	Funding	Nous Research (Hermes Agent)		$90 million
Oct 8	Funding	Arena (LMArena leaderboard)		$200 million
Oct 10	Acquisition	Cloudflare	Deno
Oct 11	Acquisition	Paramount	Warner Bros. Discovery	$111 billion
Oct 14	IPO	Jio		$3.2B (sought)
Oct 14	Funding	Zenzap		$44M
Oct 19	Funding	Even Healthcare
Oct 19	Funding	Town		$108 million
Oct 20	Funding	Blackwall		$100M
Oct 20	Acquisition	OpenAI	Orchestra Bio
Oct 20	Funding	Reliable Robotics		$115 million
Oct 20	Merger	Tesla	SpaceX
Oct 21	Funding	Blacksmith		$66 million
Oct 21	Acquisition	Bose	Skullcandy
Oct 21	Funding	Flapping Airplanes		$1 billion
Oct 21	Funding	Legora		$550 million
Oct 22	Investment	Elon Musk	Skydance	$1B
Oct 22	Funding	Warhound		$200M
Oct 23	Funding	Daytona
Oct 26	Acquisition	Geoff Graham	CSS-Tricks
Oct 26	IPO	Anthropic
Oct 27	Funding	General Compute		$100 million
Oct 27	Acquisition	Guidewire	Hyperexponential	$1.7B
Oct 27	Funding	Re:Build		$2.1B
Oct 29	Acquisition	DoorDash	Instacart	$17B
Oct 29	Investment	Cowboy Ventures, Coatue, angels Jeff Dean, Andrej Karpathy	Mintive
Oct 29	Funding	SuperMe		$20M
Oct 29	Acquisition	OpenAI-backed Thrive Holdings	ADT	$15.3 billion
Oct 29	Funding	Wabi		$55 million
Oct 30	Acquisition	Salesforce	Rune	$375M
Nov 2	Funding	42AI		$62.5M
Nov 3	Funding	Evertrue Capital		$17M
Nov 3	Acquisition	CrowdStrike	Fiddler AI	nearly $500M (combined with Dreadnode)
Nov 3	Acquisition	CrowdStrike	Dreadnode	nearly $500M (combined with Fiddler AI)
Nov 3	Funding	Ballistic Ventures		$490M (sought)
Nov 4	Investment	NBCUniversal	EloElo	$80M
Nov 4	Funding	Titan OS		$46 million
Nov 4	Acquisition	Meta	Conductor
Nov 5	IPO	Agility Robotics
Nov 5	Acquisition	Dropbox	Tigris Data	$350M
Nov 5	Funding	Zipline		$1.5 billion
Nov 5	IPO	Wonder
Nov 5	Funding	Harbinger		$240M
Nov 5	Funding	Brightmind Partners		roughly $250 million (sought)
Nov 6	Acquisition	Palo Alto Networks	Clutch	$500M (in talks)
Nov 6	Acquisition	The New York Times Company	Letterboxd	$330 million (in talks)
Nov 6	Funding	Physicl		$10M

Stories in progress

Anthropic's walk to the exchange: The S-1 filed on October 26 runs 335 pages, roughly 100 of them on risk, and describes a company losing tens of billions of dollars a year while growing fast. The amended filing shows third-quarter revenue up about 1,127% from a year earlier, though sequential growth slowed to about 47% after 132% and 144% in the first two quarters. Research firm New Constructs had already called it the most ridiculous IPO of the year, and a Tech Policy Press piece on November 3 urged the SEC to block the listing, setting at least $582 billion of non-cancellable spending against $96 billion in cash.
OpenAI's smaller round at a held price: OpenAI has filed confidentially for an IPO but pushed the debut to 2027 and is raising privately in the meantime. The headline valuation fell from $1.4T to $1.25T between late September and October 22, the $30B goal has since come down to $20B, and a November 6 report said another $11 billion had come in at that price with closing expected in the coming weeks. It keeps buying at the edges all the same, picking up Orchestra Bio on October 20 and announcing on November 5 a deal for Pierre Computer Company, whose Trees and Diffs tools already run inside the Codex app.
Old brands bought with an AI story: Thrive Holdings' ADT deal comes with an explicit plan to bring AI into home security, and GoPro agreed in September to a $285M merger with an AI infrastructure company while staying public. Disney's $20M offer for Character.AI's chatbot tech fits the same mold: an established name buying AI capability rather than building it.
Platforms absorbing the developer stack: Stripe agreed in August to buy OpenRouter for a reported $7B+, the same week SpaceX closed its Cursor acquisition. October added Supabase buying Turso and Cloudflare buying Deno, and November brought Meta buying the agent-coding startup Conductor, which closed new sign-ups on November 4, and Dropbox paying $350M for Tigris Data to support DBX Agent Cloud. Bigger platforms are buying the tools developers already route their work through.

What to watch

Whether Anthropic prices its IPO in November as reported, and whether the price lands in the $1.2T to $1.3T range under discussion or nearer the $1.1T low end.
Whether OpenAI's round closes at $1.25T in the coming weeks, and whether Greg Brockman's 2027 IPO-ready timeline holds.
How regulators treat Marvell–Lumentum, DoorDash–Instacart and Thrive–ADT, now that Fox has closed its $22B Roku deal a few months after DOJ investigators were probing it.
What the independent special committees at Tesla and SpaceX conclude about a merger Musk says he favors.
Which reported talks become signed deals: Nvidia and Reflection AI, Palo Alto Networks and Clutch, The New York Times Company and Letterboxd, SpaceX and Boost Mobile.