Corning (GLW) Stock Jumps 7% After Verizon Announces Multi-Billion Dollar Fiber Supply Deal
TLDR
- Corning stock rose over 7% Tuesday after Verizon announced a multi-billion dollar supply agreement running through 2032.
- Corning will supply more than 80 million miles of high-density optical fiber to Verizon from 2027 to 2032.
- The deal supports Verizonโs broadband expansion and AI computing infrastructure needs.
- The agreement builds on a 30-year partnership between the two companies.
- Corning has now secured several major deals in 2026, including agreements with Amazon, Meta, and an Nvidia investment.
Corning stock climbed over 7% to around $165 on Tuesday after Verizon announced a multi-year, multi-billion dollar supply agreement with the optical networking company.
The deal covers the period from 2027 to 2032. Under the agreement, Corning will supply Verizon with more than 80 million miles of high-density optical fiber and connectivity solutions.
Verizon said the deal is designed to expand nationwide consumer broadband access and support generative AI compute infrastructure. The company is targeting 40 to 50 million broadband passings, with fiber-to-the-home and local business connectivity both in scope.
โฆ Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
