Corning Stock (GLW) Jumps after Meta’s $6B Fiber Optic Cable Purchase

Shares in Corning (GLW), the New York-based optical fibre, specialty glass, and ceramics manufacturer, lit up after disclosing a $6 billion fiber-optic cable purchase from Meta (META).

Corning CEO Wendell Weeks told CNBC that Meta has committed to the purchase through 2030 for the tech giant’s AI data centers. Weeks has said the company is responding to surging orders from tech supermajors such as Meta, Nvidia (NVDA), Amazon (AMZN), and Alphabet (GOOGL) by expanding its manufacturing base.