Marvell to Buy Lumentum In $115 Billion Bet On AI Connectivity
Marvell has agreed to acquire optical components maker Lumentum in an all-stock deal with an implied enterprise value of $115 billion. "AI infrastructure is undergoing a fundamental architectural shift toward optical connectivity, creating an opportunity that comes along once in a generation," said Marvell Chairman and CEO Matt Murphy. "The companies that move first and help define this…
Marvell is acquiring Lumentum, an optical components manufacturer, in a stock deal valued at approximately $115 billion. This acquisition is a strategic move by Marvell to capitalize on the growing demand for optical connectivity in AI infrastructure. As AI infrastructure undergoes a fundamental architectural shift towards optical connectivity, Marvell sees an unprecedented opportunity that arises once in a generation, according to Marvell Chairman and CEO Matt Murphy.
The companies that lead this transition will set standards that endure for decades. By merging electrical and optical technologies, Marvell aims to meet the surging and evolving demands of AI connectivity across different regions and systems. Lumentum shareholders will receive 4.5 Marvell shares for every Lumentum share they own under this agreement.
The deal is anticipated to be finalized during the first half of 2028. Marvell's acquisition of Lumentum represents one of the most substantial investments in AI infrastructure in 2026, even amid recent doubts about the long-term viability of infrastructure spending.
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