Corning Stock Skyrockets on NVIDIA Partnership to Boost AI Infrastructure

Corning Inc. (GLW) is on track to open at an all-time high after announcing a landmark partnership with NVIDIA Corporation (NVDA) to expand U.S.-based optical connectivity manufacturing capacity tenfold.

The partnership, which includes the construction of three new advanced manufacturing facilities in North Carolina and Texas, aims to address the growing demand for artificial intelligence infrastructure. Corning will increase its fiber production capacity by over 50% as part of the deal.

Under the multiyear commercial and technology agreement, Corning has issued warrants to NVIDIA to purchase up to 18 million GLW shares at $180 per share or $500 million in pre-funded warrants for 3 million shares. The expanded capacity will supply optical connectivity that hyperscale data centers use to deploy NVIDIA-accelerated computing at scale.

The deal is expected to create over 3,000 high-paying American jobs and comes as the industry faces a shortage of components required to build data centers amid surging demand for AI compute power.