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Marvell to buy Lumentum in $115 billion deal in AI data-center bet
Marvell Technology is buying optical components maker Lumentum in a $115 billion all-stock deal, including debt, as the custom chipmaker takes on larger rival Broadcom in a race to cash in on the AI spending boom. The deal, announced on Monday, is one of the biggest in 2026 and among the boldest bets yet on the AI build-out that chip executives expect to underpin industry demand for years. The heavy spending, however, is also facing a major reality check as investors begin to doubt its sustainability in the face tightening margins and slowing cash flow, triggering a selloff in chip stocks. “AI...
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