On September 8, Corning rose 3.42% in regular trading, trading at $163.29/share, with turnover of $192 million. The stock was buoyed by a major contract announcement with Verizon Communications.

Verizon and Corning announced a multi-billion dollar supply agreement under which Corning will deliver over 80 million miles of high-density optical fiber and associated connectivity solutions between 2027 and 2032. The fiber will be deployed to accelerate residential and enterprise broadband expansion while building a nationwide long-haul backbone network serving AI supercomputing data centers. Verizon CEO Kyle Malady stated that securing large-scale fiber supply enables the company to build next-generation networks at unprecedented scale, deploying a unified converged architecture connecting mobile and broadband services.

The deal adds to a growing list of long-term orders for Corning, whose optical communications segment accounts for approximately 45.3% of total revenue. Earlier, Zayo extended its fiber supply agreement with Corning through 2030, planning to add 15,000 route miles to its network. Institutions project the global optical communications industry will sustain strong growth over the next five years, reinforcing the earnings outlook for Corning.

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