Marvell to buy Lumentum in $115 billion all-stock deal | AI news November 4, 2026. 5 hours ago Trend Lines · Wednesday, November 4, 2026 Marvell announced on November 2 a $115 billion all-stock deal to acquire Lumentum, according to Reuters, and other chip and component suppliers could pursue similar scale combinations for AI data center connectivity. You should know. Funding rounds. * Applied Compute: On or around November 2-3, 2026, Applied Compute announced a $350 million funding round at a $3.25 billion valuation led by Elad Gil, with participation from Nvidia, Kleiner Perkins, Lux Capital, Blackstone, Shopify Ventures and others, according to the company and SiliconANGLE. The company, founded less than 18 months ago by former OpenAI researchers, reports reaching a $100 million annualized revenue run rate, revenue paced at that level over a full year, serving customers including Microsoft, DoorDash and Harvey, and plans to use proceeds to expand compute capacity. Rapid revenue scaling at a new AI infrastructure provider highlights enterprise demand for custom model training and inference platforms (Applied Compute, SiliconANGLE). * fal: On November 3, 2026, fal announced a $1.3 billion Series F round led by Bessemer Venture Partners at a $16 billion valuation, double its April $8 billion valuation, with participation from Nvidia, Sound Ventures, HOF Capital and T. Rowe Price, according to TechCrunch, Bloomberg and SiliconANGLE. The company hosts and runs image, video and audio AI models, reported surpassing $800 million in annualized revenue earlier in the year, and said proceeds will fund additional compute capacity after summer rate-limiting due to demand. Surging demand for inference services is driving large raises and rapid valuation growth for specialized AI infrastructure providers (TechCrunch, Bloomberg, SiliconANGLE). M&A. * Marvell-Lumentum: On November 2, 2026, Marvell Technology announced a definitive agreement to acquire Lumentum Holdings in an all-stock transaction with an implied enterprise value of $115 billion for Lumentum, according to Reuters and company materials. One of the largest tech acquisitions of the year, the deal signals continued heavy investment in AI connectivity infrastructure components (Reuters, Marvell, SiliconANGLE). Deep Dive: Optical networking deals for AI data centers. What's new. On November 2, 2026, Marvell Technology announced a definitive agreement to acquire Lumentum Holdings in an all-stock transaction. Reuters, Marvell's release and SiliconANGLE report an implied enterprise value of $115 billion for Lumentum, the full deal value including debt, and an equity value of about $102.5 billion. Lumentum shareholders would receive 4.5 Marvell shares per share and about 33% ownership of the combined company. The deal is expected to close in the first half of 2028, subject to approvals. Marvell says the combination expands its addressable market to $550 billion and targets AI data center optical networking demand, the light-based links that move data inside those facilities (Reuters, Marvell, SiliconANGLE). What it points to. Over the next 30 days, track regulatory and shareholder reaction to the Marvell and Lumentum terms, any competing bids or rival optical networking combinations, and whether peer chipmakers signal their own M&A plans around AI networking as investors test the path to a first-half 2028 close and the $550 billion addressable market claim.

Applied Compute, an artificial intelligence company, has reached a $3.25 billion valuation after raising $350 million in its latest funding round. The company announced the news on November 3, 2026. Latham & Watkins LLP advised it on the deal.