On Nov. 2, Marvell Technology (NASDAQ:MRVL) agreed to buy Lumentum Holdings (NASDAQ:LITE), a maker of lasers and optical transceivers, in an all-stock deal. The firms put Lumentum's enterprise value (its stock market value plus debt, minus cash) at $115 billion, using both stocks' Oct. 28 closing prices. Marvell says the combination creates a category leader in artificial intelligence (AI) connectivity -- the chips and optical parts that send data between AI processors. Broadcom (NASDAQ:AVGO) knows the business well. The chip designer sells custom AI accelerators, Ethernet switches, and optical components for AI data centers. But its stock dipped only about 1% on Nov. 2, while Marvell shares slid about 13%.
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