US EditionCorning Inc./Meta Reach $6B Data Center Deal
Meta's $6 billion deal will expand Corning's fiber-optic production, creating up to 1,000 jobs and supporting AI data center growth across the U.S., driven by rising demand.
- On Tuesday, Corning Inc. shares surged more than 16% after CNBC reported Meta Platforms will pay up to $6 billion, making it the S&P 500's top gainer.
- Demand is rising because fiber is more energy-efficient, with Corning Inc. expanding operations to supply hyperscalers like Meta, as fiber uses far less energy than copper, Weeks said.
- Corning's optical communications revenue rose 33% to $1.65 billion, with enterprise sales up 58% driven by new Gen AI products, and over 1.3 billion miles of Contour fiber invented, O'Day said.
- Jim Cramer urged restraint for sellers, saying `Don't sell this stock` and `Understand, we in this thing not for $109, but for $200.` The Investing Club still targets $95 per share and awaits Wednesday earnings from Corning and Meta.
- The expansion could create local jobs in Hickory as Corning Inc. expects to add 750 to 1,000 jobs and warns of risks amid critics' bubble concerns over $1 trillion compute deals.
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Winston-Salem Journal
News & RecordCorning signs supplier agreement with Meta valued at $6 billion, 1,000 NC jobs
Corning and Meta said the contract is designed to "accelerate the buildout of the most advanced data centers in the United States to support Meta’s apps, technologies and AI ambitions." Corning will supply Meta with its newest innovations in optical…
The AI boom’s most unexpected winner? A 175-year-old company called Corning
You might know Corning for its iconic kitchen brands, like Pyrex and CorningWare. You might remember that Thomas Edison relied on the company to develop glass for the light bulb, or that in 1970, Corning invented the first glass fiber that was useful for long-distance communication, while in 2007 Steve Jobs turned to Corning, which is based in Corning, N.Y., to create the hard-to-shatter glass that now wraps every iPhone. You probably don’t thin…
This initiative is part of Facebook and Instagram's parent company's plan to build data centers in the US using domestic technology; Corning will supply its latest generation of fiber optics, cables, and hardware.
Meta, Corning sign deal worth up to $6 billion for fiber-optic cables in AI data centers
Jan 27 (Reuters) - Facebook parent Meta Platforms will pay Gorilla Glass maker Corning up to $6 billion over the next several years in a deal to provide fiber-optic cables for its AI data centers, the companies said on Tuesday.
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