AT&T signs over $3 billion fiber deal with Corning as data demand surges
T•AT&T signed a multiyear deal worth more than $3 billion with Corning to procure fiber and cable. AT&T said it aims to reach 60 million fiber locations by the end of the decade.
1. Fiber supply deal
AT&T said it signed a multiyear agreement worth more than $3 billion with Corning to procure fiber and cable as it expands its network. Corning shares rose 3.3% in premarket trading.
2. Expansion plans
AT&T said the average fiber household uses more than 1 terabyte of data each month, five times more than in 2016, and expects usage to keep climbing. The company aims to reach 60 million fiber locations by the end of the decade. Its fiber footprint has also expanded through its $5.75 billion acquisition of Lumen’s fiber business, and AT&T has committed more than $250 billion over five years to strengthen U.S. connectivity infrastructure.
