Overview
- The companies announced Wednesday a multiyear plan for three facilities in North Carolina and Texas that will boost Corning’s U.S. optical connectivity output tenfold, lift fiber production by more than 50%, and add about 3,000 jobs.
- Nvidia secured pre-funded warrants for 3 million Corning shares worth about $500 million and additional warrants for up to 15 million shares at $180, with disclosures also describing an option to invest up to $2.7 billion.
- Corning’s stock jumped roughly 14% to 17% after the news, while Nvidia rose about 2% to 4%, reflecting expectations for stronger AI infrastructure demand.
- The buildout supports a move toward co-packaged optics, which places fiber next to chips so data travels as light over very short runs using less power than copper wiring.
- Corning raised its outlook, saying it expects a $20 billion annualized sales run rate by year-end and setting higher multi‑year run-rate goals tied to AI connectivity needs.