Corning Lands $3 Billion AT&T Fiber Deal

Corning Inc. (NYSE:GLW) stock is trading higher Tuesday after the company signed a multi-year agreement worth more than $3 billion with AT&T Inc. (NYSE:T).Under the agreement, Corning will supply fiber and cable to support AT&T’s network expansion as internet usage and artificial intelligence drive higher data demand.AT&T Expands Fiber NetworkAT&T said the agreement will help it expand fiber coverage and work toward connecting 60 million Americans by the end of 2030.The telecom company said the average AT&T Fiber household now uses more than 1 terabyte of data each month. That is about five times the level recorded in 2016.Monthly usage could reach 2 to 2.5 terabytes by 2030 as consumers use more streaming, gaming, cloud services and AI applications.Corning’s products will support AT&T’s fiber buildout and help improve installation efficiency at scale. See More: Top Value Stocks Deal Builds On U.S. InvestmentThe agreement also expands the companies’ domestic manufacturing partnership.Corning continues to invest in U.S. fiber and cable production, including facilities in North Carolina. AT&T, meanwhile, has committed more than $250 billion over five years to strengthen U.S. connectivity infrastructure.AT&T CEO John Stankey said fiber remains the “gold standard” for internet connectivity because of 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 domestic supply chains.AT&T reiterated the financial outlook and capital allocation plan it issued with its second-quarter 2026 results. The company said that outlook already reflects the financial impact of the Corning agreement.The deal follows another major telecom win for Corning. Earlier in September, Verizon Communications Inc. (NYSE:VZ) signed a multi-year, multi-billion-dollar agreement for more than 80 million miles of Corning optical fiber and connectivity products from 2027 through 2032. Verizon plans to use the fiber for broadband expansion and long-haul infrastructure supporting AI data centers.GLW Price Action: Corning shares were up 4.12% at $157.83 at the time of publication Tuesday, according to Benzinga Pro data.Photo via Shutterstock Read Also: Jim Cramer: Buy This Energy Stock, It Is ‘Terrific’