Marvell Technology is reportedly in advanced talks to acquire Lumentum Holdings, a maker of lasers and optical components for AI data centers. Bloomberg said the all-stock deal could be announced as soon as the week of November 3, 2026. Lumentum, valued at roughly $83 billion to $85 billion, has key optical products sold out until early 2029 and expects a significant supply shortfall for certain other products by 2027. Investors initially split the difference: Lumentum shares rose 9% to 14%, while Marvell shares fell 8% to 14% in after-hours trading. The transaction would give Marvell control over strategically important technology, but Reuters Breakingviews warned that the price could outweigh the potential payoff.
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