Corning Shares Rise on Over $3 Billion AT&T Fiber Deal

Corning shares rose on Tuesday after the company signed a multi-year agreement valued at over $3 billion with AT&T.

Under the agreement, Corning will supply fiber optic cable and optical cable to support AT&T's network expansion, as rising internet usage and artificial intelligence drive growth in data demand.

AT&T Expands Fiber Network

AT&T said the agreement will help expand its fiber footprint and advance its goal of connecting 60 million Americans by the end of 2030.

The telecom company said AT&T fiber household users currently average over 1TB of data usage per month, roughly five times the level recorded in 2016.

As consumers use more streaming, gaming, cloud services, and AI applications, average monthly usage could reach 2 to 2.5TB by 2030.

Corning's products will support AT&T's fiber buildout and help improve installation efficiency at scale.

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Agreement Builds on U.S. Domestic Investment

The agreement also expands the two companies' domestic manufacturing partnership.

Corning continues to invest in U.S. fiber optic and optical cable production, including facilities in North Carolina. Meanwhile, AT&T has committed to investing over $250 billion over five years to strengthen America's connectivity infrastructure.

AT&T CEO John Stankey said fiber remains the "gold standard" for internet connectivity due to its speed, reliability, and capacity.

Corning CEO Wendell Weeks said the agreement combines Corning's U.S. manufacturing operations with AT&T's network investments while supporting the domestic supply chain.

AT&T reaffirmed its financial outlook and capital allocation plans, which were released with its second-quarter 2026 earnings. The company said the outlook already reflects the financial impact of the Corning agreement.

This agreement marks another major win for Corning in the telecom sector. In early September, Verizon Communications signed a multi-year, multi-billion-dollar agreement to purchase over 80 million miles of Corning fiber and connectivity products between 2027 and 2032. Verizon plans to use the fiber for broadband expansion and long-haul infrastructure supporting AI data centers.

GLW price action: As of Tuesday's writing, Corning shares were up 4.12% at $157.83.