AT&T signs over $3 billion Corning fiber deal as data demand surges
AT&T signed a multi-year agreement worth more than $3 billion with Corning on Tuesday. Corning will supply fiber and cable for AT&T’s network expansion. Corning shares rose 3.3% in premarket trading after the announcement.
The deal comes as data use grows across streaming, cloud computing, connected devices and artificial intelligence. AT&T said its average fiber household now uses more than 1 terabyte monthly, five times the 2016 level. The company expects usage to keep rising as AI applications expand.
Meanwhile, AT&T aims to reach 60 million fiber locations by the end of 2030. The company has also expanded its footprint through its $5.75 billion acquisition of Lumen’s fiber business. AT&T said its five-year connectivity investment plan exceeds $250 billion.
Why it matters
The agreement strengthens fiber infrastructure spending as AI and cloud services drive higher data demand. Corning could benefit from sustained demand for optical connectivity equipment.
