Corning Shares Rise After Securing Over $3 Billion Fiber Deal with AT&T

Shares of Corning Incorporated (NYSE: GLW) rose 3% in Tuesday morning trading after the company announced a multi-year supply agreement with AT&T (NYSE: T) valued at more than $3 billion. The deal positions Corning as a key supplier for AT&T's ongoing fiber-optic network expansion across the United States.

Details of the Agreement

Under the terms of the deal, Corning will provide the fiber optic cable and related materials needed for AT&T's ambitious infrastructure project. AT&T has publicly committed to bringing high-speed fiber internet to 60 million Americans by the end of 2030.

The agreement comes as demand for data continues to surge. According to AT&T, the average household on its fiber network now consumes over 1 terabyte of data each month, a fivefold increase since 2016. The company projects this figure could rise to between 2 and 2.5 terabytes per month by 2030, driven by the growing prevalence of streaming, gaming, cloud services, and artificial intelligence.

Strategic Context and Outlook

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This collaboration builds on significant domestic investments from both companies. AT&T has committed over $250 billion in a five-year plan to enhance U.S. connectivity, while Corning has been expanding its fiber and cable manufacturing capabilities, particularly at its facilities in North Carolina.

"Fiber remains the gold standard for superior internet connectivity, and AT&T is the nation’s leader in fiber," said John Stankey, Chairman and CEO of AT&T, in a statement. Wendell Weeks, Corning's Chairman, CEO, and President, added that the agreement represents "the next chapter" in the two companies' long-standing partnership.

For investors, AT&T confirmed that the financial impact of this agreement is already incorporated into the financial outlook and capital allocation plan it provided during its second-quarter 2026 earnings release.