Marvell Just Bet $115 Billion On AI's 'Once In A Generation' Opportunity. Should You Buy The Stock?

Marvell agreed to acquire optical-parts maker Lumentum for approximately $115 billion in an all-stock deal, with Lumentum shareholders receiving 4.5 Marvell shares per share (23.9% premium). Current Marvell shareholders will own about 67% of the combined company post-deal. Marvell stock fell over 20% since talks were reported, but the company projects $70-90 billion in revenue and $30+ EPS by fiscal 2031. The deal closes in H1 2028 and requires shareholder and regulatory approval.