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Tech · November 2, 2026

Marvell to buy data centre component maker Lumentum in $115bn AI bet

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Marvell Technology announced an agreement to acquire Lumentum Holdings in an all-stock transaction valued at approximately $115 billion. The deal is aimed at positioning the combined company as a leader in AI connectivity by merging Marvell's semiconductor infrastructure with Lumentum's optical components. The acquisition, which includes debt, is expected to close in the first half of 2028, pending shareholder approval. This move comes as Marvell seeks to compete more effectively with larger rivals like Broadcom amidst a massive expansion in AI data center infrastructure.

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Reported by multiple outlets

  • Marvell Technology will acquire Lumentum Holdings for $115 billion.
  • The deal is an all-stock transaction.
  • The acquisition is intended to create a leader in AI connectivity.
  • The merger targets the growing AI data center market.

Reported by only some outlets

  • Nvidia purchased a $2 billion stake in Lumentum earlier this year.
  • The transaction includes debt.
  • The deal is expected to close in the first half of 2028.
  • Marvell's stock fell over 1% and Lumentum's fell nearly 3% following the announcement.
  • Marvell aims to challenge its larger rival, Broadcom, through this acquisition.

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