Marvell buys Lumentum in US$115 billion deal to reinforce bet on AI

Marvell Technology decided to bet big on the infrastructure that supports artificial intelligence. According to Money Times, the custom chip maker announced the purchase of Lumentum, an optical components company, in a US$115 billion deal. The announcement was made on a Monday, but the exact date is not included in the information collected.

Under the terms disclosed, the operation will be paid entirely in shares, and the value of US$115 billion includes Lumentum's debts. Investing.com, which also reported on the operation, described it as a 'mega AI merger'.

Lumentum is about half the size of Marvell, which makes the purchase relevant to the acquirer's size. Marvell operates in the production of personalized chips, a market in which the main rival is the larger Broadcom.

The logic of the business, according to Money Times, is the bet that demand for high-speed optical components for data centers will continue to exceed supply. In other words, Marvell seeks presence in a link in the chain that the vehicle considers to be prone to scarcity.

According to Money Times, the transaction is among the largest in 2026, a sign of the size of the movement in the AI ​​infrastructure sector.

What changes for the investor

The most sensitive point for those who invest is the payment method. As the purchase will be made entirely in shares, Marvell's current shareholders will share the capital with Lumentum's former owners, which could dilute the participation of those already in the company. The effect on earnings per share depends on factors that the available information does not yet clarify, such as the integration of operations and the performance of the two companies after the closing. It is worth monitoring the next steps of the agreement and how the combined company will capture the demand for components for data centers.

Automatically translated from Portuguese.