Corning Surges 80-100% YTD on AI Data Center Fiber Demand; Bags Billions in Contracts with Meta, Nvidia

According to The Motley Fool, Corning's stock has surged 80-100% year-to-date in 2026, driven by major supply contracts for optical fiber cables used in AI data centers. The company secured a $6 billion multi-year agreement with Meta in January, while a May partnership with Nvidia will see Corning expand U.S.-based optical component manufacturing capacity tenfold. Additionally, CEO Wendell Weeks disclosed in April that Corning signed two more major contracts with unnamed hyperscalers at similar scale to Meta's deal.

In Q1 2026, Corning's optical communications revenue reached $1.8 billion, up 36% year-over-year, with net profit surging 93% to $387 million. The segment now accounts for over half of the company's $612 million core net profit, making AI the primary growth driver. Current valuation stands at a 73.9x P/E ratio; however, analysts project adjusted earnings per share will grow to $4.22 by 2027, implying a forward P/E of approximately 47.1x.