Marvell Bets $115 Billion on the Light Inside AI Data Centers
Marvell Technology announced November 2 that it will acquire Lumentum in an all-stock deal with an implied enterprise value of $115 billion, aiming to pair its chips with Lumentum’s lasers and optical parts for AI data centers. Lumentum shareholders would receive 4.5 Marvell shares per share, Marvell holders would own about 67% of the combined company, and closing is expected in the first half of 2028, subject to shareholder and regulatory approvals — even as Marvell shares fell about 13% on the announcement. ...