Marvell bets $115 billion on optical links for AI data centres
Marvell agreed to acquire optical-components maker Lumentum in an all-stock transaction valued at $115 billion including debt, placing a major wager on AI data-centre connectivity.
By TomorrowNews · AI-assisted briefing · Briefing published 3 November 2026
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Reuters reported that the deal values Lumentum's equity at $102.5 billion and would give its shareholders about one-third of the combined company. Marvell expects the merged business to generate more than $21 billion in annual revenue.
The companies target a first-half 2028 closing subject to approvals. Marvell and Lumentum shares fell after the announcement as investors questioned the price, financing exposure and scale of the bet.
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