Marvell Technology announced an agreement to acquire optical-components maker Lumentum in a massive $115 billion all-stock transaction, marking one of the largest technology mergers on record. The deal combines Marvell’s custom silicon and semiconductor capabilities with Lumentum’s advanced optical transceivers and high-speed lasers, targeting soaring demand for inter-chip connectivity inside AI data centers. The acquisition significantly strengthens Marvell’s competitive positioning against Broadcom, expanding its total addressable market to $550 billion and reinforcing its role in custom AI accelerator supply chains. The combined company anticipates generating over $1 billion in annual cost synergies, building on Marvell’s earlier investments in photonics and optical networking to meet modern multi-node AI cluster requirements. Under the terms of the agreement, Lumentum stockholders will receive a fixed share exchange ratio, with Marvell CEO Matt Murphy continuing to lead the combined entity upon expected closing in the first half of 2028.

Full report : Chip Maker Marvell Agrees to Buy Lumentum in $80 Billion Deal.