AI Fiber Deals Can't Save Corning From Worst Monthly Crash Since 2000

Corning's stock dropped by 45.88% in July 2026, despite landing massive deals with Amazon, Nvidia, and Verizon for its AI fiber business.

The company reported a 32% year-over-year increase in Optical Communications sales to $2.07 billion and a 65% rise in Enterprise sales to $1.27 billion.

CEO Wendell Weeks said Corning expects to reach an annualized sales run rate of $20 billion by the end of 2026, $30 billion by the end of 2028, and $40 billion by the end of 2030.

The July drawdown compressed a runaway rally, but the underlying business continued to expand. Corning's customer roster is growing with major hyperscalers committing billions to its AI fiber solutions.