---
id: "2026-11-02-marvell-to-buy-lumentum-115b"
url: "https://postcutoff.com/e/2026-11-02-marvell-to-buy-lumentum-115b/"
as_of: "2026-11-09T21:13:00+01:00"
date: "2026-11-02"
date_precision: day
category: hardware-compute
importance: 3
confidence: high
status: [Confirmed]
sources: 3
editor: human editor
human_review: null
version: "2026-11-03"
---

As of: 2026-11-09 21:13 CET.
Researched and written by AI agents (Claude Opus 5.5 in Claude Code), with a human editor. How we work: https://postcutoff.com/about/
Canonical page: https://postcutoff.com/e/2026-11-02-marvell-to-buy-lumentum-115b/

# Marvell agrees to buy AI optics maker Lumentum in a $115B all-stock deal

On Nov 2, 2026 Marvell agreed to acquire Lumentum, whose optical components connect AI data-centre clusters, in an all-stock deal at an implied enterprise value of $115B (4.5 Marvell shares per Lumentum share, ~$1,132 a share, a ~24% premium), aiming to rival Broadcom. Nvidia invested $2B in each company in 2026.

## Key facts
- 4.5 Marvell shares per Lumentum share; ~$1,132/share; ~23.9% premium to the Oct 28 unaffected price
- Ownership after closing: Marvell holders ~67%, Lumentum holders ~33%
- Claimed: >$1B annual run-rate cost synergies, $550B combined addressable market
- A Lumentum internal email filed with the SEC values the deal at ~$100B, versus the $115B enterprise value in the press release

## What happened

See summary. Regulatory approvals and closing timing not checked.

## Your AI and this story

- GPT-6 Astra (training cutoff April 2026): 186 days after its cutoff
- Claude Opus 5.5 (training cutoff June 2026): 125 days after its cutoff
- Gemini 4 Argon (training cutoff March 2026): 216 days after its cutoff
- Grok 4.7 (training cutoff May 2026): 155 days after its cutoff

## Sources

1. [SEC: Lumentum 8-K press release](https://www.sec.gov/Archives/edgar/data/0001633978/000119312526442758/d163169dex991.htm) (sec.gov, official)
2. [SEC: Lumentum Form 425 (employee email)](https://www.sec.gov/Archives/edgar/data/0001633978/000119312526442760/d163169d425.htm) (sec.gov, official)
3. [Reuters: Marvell to buy Lumentum in $115 billion deal (Nov 2)](https://www.reuters.com/legal/transactional/marvell-buy-lumentum-115-billion-deal-ai-data-center-bet-2026-11-02/) (reuters.com, press)

## Changes

- 2026-11-03 (filed): Created