Afternoon edition — Monday 2 November 2026

Goldman Sachs has restricted Anthropic's Claude Code and Microsoft's GitHub coding tools to engineers only, under internal guidance updated in October, Bloomberg News reported on Monday. For months bankers and traders had been allowed to use them.

Bloomberg says some traders are frustrated: they had used the tools to monitor client trading flows, model market changes and positions, and produce written and graphic material. As recently as July, chief information officer Marco Argenti praised "vibe coding" by non-technical staff.

A Goldman spokesperson said that after a period of experimentation that weighed "productivity and risk management", the bank puts tools "in the hands of those who are best suited to leverage them for the long term." Earlier this year the bank restricted Claude for staff in Hong Kong.

Marvell Technology and Lumentum announced a definitive agreement on Monday for Marvell to acquire Lumentum, which makes high-performance lasers, optical transceivers and optical circuit switches. Lumentum holders will get a fixed 4.5 Marvell shares for each share.

The companies put the implied enterprise value at $115 billion, about $1,132 a Lumentum share and a 23.9% premium to the 28 October close, before market speculation began. Marvell holders would own about 67% of the combined company and Lumentum holders about 33%. Matt Murphy stays chairman and chief executive, and three Lumentum directors, including chief executive Michael Hurlston, join Marvell's board.

Marvell says the deal joins its electrical interconnect, switching and custom-chip business with Lumentum's optics for AI data centres, and expects more than $1 billion of annual cost savings. Closing is expected in the first half of 2028, subject to shareholder and regulatory approval. CNBC reported both stocks fell before the bell.

OpenAI is launching a "Grid Protectors Program" under which it will reduce electricity use at US data-centre campuses it develops itself when extreme weather or other emergencies strain the grid, Axios reported on Monday, quoting a blog post OpenAI planned to publish later in the day.

The template is OpenAI's planned campus in Effingham County, Georgia, where it has committed to cut demand by up to a gigawatt when the grid needs relief. Georgia Power said in July that the site needs about 3,200 megawatts under a 25-year agreement and that up to 1,000 megawatts would be flexible. OpenAI says arrangements will vary by campus and will be announced as they are finalised.

John McCarrick, OpenAI's head of energy policy, told Axios that data centres no longer insist on near-constant availability. On Reddit's r/technology, weekend threads on data-centre energy use drew thousands of upvotes, many of them hostile to the industry.

Oracle filed preliminary prospectus supplements on Monday for $10 billion of common stock and a separate $10 billion of senior notes. Neither offering depends on the other. Oracle says the money is for general corporate purposes, which may include capital spending and debt repayment.

CNBC reports the plan was outlined at Oracle's investor day last week. Oracle shares fell more than 4% on Monday. CNBC puts its debt at $125.34 billion as of 31 August; S&P cut Oracle to BBB-, one notch above junk, in July.

A WIRED investigation found a network of more than 400 connected apps and domains that present as ordinary AI tools, such as pet portraits, language lessons or workout coaching, but can load a hidden web interface for making explicit deepfake images and videos from uploaded photos. Payments went through Apple and Google Pay.

Researchers traced the network after examining thousands of explicit deepfake video ads on Facebook and Instagram. Paul Bouchaud of the nonprofit AI Forensics says the server decides whether to show the explicit version; one trigger appears to be installing the app from a Meta ad. At one point about 27 such apps were live on Google Play, with more than 350,000 downloads in total.

WIRED links the operation to Chinese-language developers and a Hong Kong company, KeLing Technology Limited, which did not respond. Apple removed 19 apps after WIRED's questions and says developers swapped in pornographic content after review. Meta says it has acted against 11,600 ad accounts and blocked 209 apps from advertising; Google had removed most of the apps before WIRED contacted it.