Marvell to buy Lumentum in $115 billion bet on AI data-center optics
Chip designer Marvell Technology agreed Monday to buy optical components maker Lumentum in an all-stock deal with an implied enterprise value of $115 billion, CNBC and TechCrunch reported. The companies say joining chips and lasers will help move data inside AI data centers.
The terms: Lumentum shareholders will receive 4.5 Marvell shares for each Lumentum share. TechCrunch put the equity value at about $80 billion. The deal is expected to close in the first half of 2028 if shareholders and regulators approve.
What it does: Lumentum makes lasers and optical parts that connect chips with light. Marvell said combining electrical and optical technology will meet growing AI connectivity demands, CNBC reported.
Market reaction: Marvell shares fell 13% Monday and Lumentum fell nearly 19%, CNBC reported. Nvidia invested $2 billion in each company earlier this year, TechCrunch reported.