The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Investing.com -- Corning Incorporated (NYSE:GLW) shares rose 3% Monday after the company announced a multi-year, multi-billion dollar supply agreement with Verizon Communications through 2032.
Under the agreement, Corning will supply Verizon with more than 80 million miles of high-density optical fiber and connectivity solutions from 2027 to 2032. The deal supports Verizon's expansion of consumer broadband access and infrastructure for AI computing needs.
The fiber deployment will support Verizon's push toward 40-50 million broadband passings, expanding fiber-to-the-home and local business connectivity. The infrastructure will also serve as a backbone for AI workloads, connecting data centers across major long-haul corridors.
"Securing this volume of fiber allows us to continue building the network of the future at an unprecedented scale," said Kyle Malady, CEO of Verizon Business. "We are deploying a single, converged architecture that unites mobile connectivity and broadband into one seamless experience for millions of families and businesses, while simultaneously building the high-capacity, low-latency backbone AI hyperscalers demand."