Corning Shares Rise After AT&T Unveils $250B Connectivity Investment
Corning shares rose 0.68% in after-hours trading to $137.15 following AT&T’s announcement of a $250 billion U.S. connectivity investment commitment. The long-term spending pledge underscores Corning’s role as a key fiber and cable supplier under a multi-year purchase agreement.
1. AT&T’s $250B Connectivity Pledge
AT&T CEO John Stankey unveiled a $250 billion investment plan to enhance U.S. connectivity competitiveness by expanding fiber and 5G networks under a regulatory environment deemed most conducive for infrastructure spending.
2. Corning’s Supplier Role
Corning, a leading provider of glass science and optical solutions, holds a multi-year purchase agreement with AT&T for next-generation fiber and cable, and also secured up to $6 billion in data center fiber deals with Meta Platforms.
3. Stock Reaction and Metrics
Following the announcement, Corning shares gained 0.68% in after-hours trading to $137.15 after closing regular hours up 5.56% at $136.22; the company has a $116.87 billion market capitalization and trades near its 52-week high.