Marvell is buying Lumentum, the laser company, in an all-stock deal that values it at about $115B. In my opinion this is the clearest sign yet that the next bottleneck in AI clusters is connectivity. Lumentum makes the lasers and optical parts that move data between GPUs. Marvell makes the chips on the electrical side. Put them in one company and you can design the whole path a signal takes, from inside the chip package out to the next data centre. Marvell's own deck shows why. Data moving between data centres is the 1x baseline. Inside a rack it's 100x. Inside the package it's 1000x. Every step closer to the GPU needs far more bandwidth, and that's where optics are heading next. They put the combined market at $550B by 2030. Nobody pays $115B for lasers unless they expect clusters to keep getting bigger for years. I think the links between GPUs are about to matter as much as the GPUs themselves