Marvell, a custom chip designer, will acquire Lumentum in an all-stock deal with an enterprise value of $115 billion including debt and an equity value of about $80 billion, offering 4.5 Marvell shares for each Lumentum share. The deal ranks among the largest in tech history, compared with Microsoft's $68.7 billion purchase of Activision Blizzard in 2022 and Dell's $67 billion acquisition of EMC in 2016. Nvidia is a shared major shareholder: it invested $2 billion in Lumentum in March under a multi-year laser component agreement, and later that month invested $2 billion in Marvell. The transaction is expected to close in the first half of calendar 2028, subject to shareholder and regulatory approval.
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mergers and acquisitionssemiconductorsMarvellLumentumNvidia
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• NeutralNvidia
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| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/30/2026 | 204.81 |
| Change that session | -4.14% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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