Corning Inks Multibillion-Dollar Optical Fiber Deal with Amazon, Stock Surges Over 5%

According to CNBC, Corning announced on Monday a multibillion-dollar optical fiber supply agreement with Amazon to support the e-commerce giant's expanding data center footprint. The company plans to create 1,000 new jobs at its North Carolina manufacturing facilities to increase production capacity.

Corning's stock opened up 8.4% on the news and closed with a gain exceeding 5%. The deal represents the third major partnership for Corning with hyperscale customers within six months, following agreements with Meta Platforms (valued at up to $6 billion through 2030) and Nvidia ($500 million investment).