Corning secures a major multi-year contract with Verizon to supply 80 million miles of optical fibre, fueling US manufacturing expansion and meeting rising demand for AI-ready network infrastructure.
Verizon is the primary buyer in this agreement, securing critical infrastructure to support its goal of reaching 40 to 50 million broadband passings. While the deal represents a significant multi-year financial commitment, it is strategically vital for Verizon to build a converged architecture that supports both consumer broadband and the high-capacity backbone required by AI hyperscalers.
Verizon needs the capacity to expand its broadband passings and to provide the high-capacity, low-latency backbone required by AI hyperscalers.
The supply agreement covers the period between 2027 and 2032.
Corning Incorporated shares climbed 3% following a multi-billion-dollar agreement to supply Verizon with 80 million miles of optical fibre through 2032. The deal bolsters Corning's long-term revenue visibility while supporting Verizon's strategic expansion into consumer broadband and AI-driven data center infrastructure.
The agreement secures a long-term supply of optical fibre to support Verizon's broadband expansion and the high-capacity, low-latency infrastructure required for AI computing.