Lumentum Holdings reported first-quarter fiscal 2027 revenue of $1.26 billion, up from $533.8 million a year earlier. Net income rose to $360.3 million from $4.2 million, and basic earnings per share reached $3.90 against $0.06. The optics maker landed a second major contract for NPO and CPO products, with purchase commitments above $5 billion. Optical circuit switching sales are also growing. For the second quarter, it expects revenue of $1.58 billion to $1.63 billion and non-GAAP earnings per share of $5.90 to $6.20. Trailing twelve-month losses stand at about $6.6 billion, and the stock trades at 16.5 times sales. Bears warn that plans to quadruple pump laser output could cause overcapacity once demand normalises.

Marvell Technology to acquire Lumentum Holdings in historic US$115 billion deal. Wed, nov 04, 2026 page9. * Marvell Technology to acquire Lumentum Holdings in historic US$115 billion deal * Bloomberg * * Add TT as Preferred Source Marvell Technology Inc agreed to buy Lumentum Holdings Inc at an enterprise value of US$115 billion, clinching one of the largest technology deals in history in a push to capitalize on runaway data center spending. Marvell shareholders are to get 67 percent of the combined business in an all-stock transaction that values the equity at about US$102.6 billion. The merger is expected to be completed in the first half of 2028, the companies said. Marvell Technology Inc president and chief operating officer Chris Koopmans speaks during the Marvell Technology Investor Day in New York on Oct. 6. Photo: Reuters The deal is Marvell's boldest bet yet to recast itself as a star of the artificial intelligence (AI) industry. The company already designs chips used in ever-growing AI infrastructure. With Lumentum, it would have components that use light to speed information around data centers. Still, the merger immediately sparked concerns from investors, who sent shares of both companies sliding on Monday. Embarking on a massive AI deal at a time when the market is jittery about the industry could be a risky proposition. Analysts do not see much cost-cutting potential between the two businesses' operations. Moreover, the 2028 goal for completing the tie-up suggests that gaining clearance would not be easy. The Lumentum acquisition is the top mergers and acquisitions deal of the year on an equity basis, according to data compiled by Bloomberg. It is second only to the SpaceX-xAI merger as the largest tech transaction ever. The transaction shows how AI is driving deals across almost all major sectors and regions, from the chip industry to data center operations to power utilities. "Marvell has been on a decade-long journey to build a strong position in the core technologies powering the AI industry," Marvell chief executive officer Matt Murphy said during a conference call on Monday. "This transaction marks a defining next step in that journey." The agreement follows a rocky week for the tech industry, with stocks getting hammered over concerns that a spending bubble would pop. Shares of Marvell and Lumentum tumbled at the end of last week - and the declines extended into Monday, a sign investors were not happy with the terms of the merger. Lumentum had been valued at US$76 billion as of Friday, with Marvell's market capitalization standing at US$172.2 billion. Lumentum makes lasers and other optical technology for moving enormous amounts of data at high speeds. That hardware underpins the AI boom, as it lets data centers and telecommunications firms move information between servers, facilities and other destinations. Marvell already buys laser technology from Lumentum, and the larger company has been increasing its bets on optical and photonic technology for connecting data center gear. Earlier this year, Marvell purchased photonics maker Celestial AI. Nvidia Corp, the world's largest chipmaker, announced an agreement to take a US$2 billion stake in Lumentum in March. That pact included plans to collaborate on photonics, which use light instead of traditional copper wiring to move data faster and more efficiently. Meanwhile, Marvell works with the cloud-computing operations of Amazon.com Inc and Microsoft Corp to help build custom AI chips. In August, the company struck a chip deal with Alphabet Inc's Google to support the search giant's tensor processing units. Qatalyst Partners is serving as the lead financial adviser to Marvell, with Goldman Sachs Group Inc and JPMorgan Chase & Co also working with the company. Citigroup Inc and Evercore Inc are advising Lumentum. * Most Popular * 1 US Army outlines Pacific deployments for possible 2027 China-Taiwan conflict * 2 NT dollar's drop tied to stocks: official * 3 China's military purge reduces war risk: experts * 4 Czechia eyes drone assembly in Taiwan * 5 Pakistan reverses Taiwanese airlines ban

Menlo Microsystems appoints John B. Kennedy as Chief Financial Officer. Menlo Microsystems (Menlo Micro) has appointed John B. Kennedy as Chief Financial Officer (CFO), effective immediately. He will lead the company's financial strategy and operations as it expands the commercialization of its Ideal Switch(R) technology across AI infrastructure, data centers, and other technology markets. Kennedy brings more than three decades of financial and business experience, including 25 years in senior finance leadership positions at venture-backed semiconductor, deep-tech, and high-growth technology companies. His previous organizations include Inspire Semiconductor, SolarBridge Technologies, and TriLumina. Throughout his career, Kennedy has led venture, strategic, and debt financing activities, managed complex financial transactions, completed buy-side and sell-side mergers and acquisitions, and supported companies through public-market transitions. At Inspire Semiconductor, he held a senior finance leadership role. He also served at SolarBridge Technologies, which was later acquired by SunPower, and TriLumina, whose VCSEL technology was acquired by Lumentum. Kennedy succeeds Mark Czepiel, who served as Menlo Micro's CFO for the past decade, supporting the company's development from early-stage technology innovation to commercial adoption. Menlo Micro CEO Rich Simoncic said Kennedy's semiconductor industry experience and financial leadership would support the company's expansion across AI infrastructure, data centers, and RF switching markets. He also highlighted the importance of strengthening financial operations, strategic partnerships, and execution as the company advances its commercial plans. Commenting on his appointment, Kennedy said the company's Ideal Switch technology is entering new markets and applications. He emphasized the need to develop scalable financial operations, strategic partnerships, and capital strategies to support its next stage of growth. The appointment comes as demand for advanced switching technologies grows across AI infrastructure and data center environments. Menlo Micro's Ideal Switch platform is designed for high-frequency and power applications, including semiconductor testing, aerospace and defense, and communications. Kennedy's appointment marks a leadership transition as Menlo Micro moves further into the commercial expansion of its semiconductor technology.