Corning announces up to $6B agreement with Meta for optical fiber and solutions

Corning (GLW) and Meta Platforms (META) announced a multiyear, up to $6B agreement to “accelerate the buildout of the most advanced data centers in the United States to support Meta’s apps, technologies, and AI ambitions.” Under the agreement, Corning will supply Meta with its newest innovations in optical fiber, cable, and connectivity solutions. To support this, Corning will expand manufacturing capabilities across its operations in North Carolina, including a significant capacity expansion at its optical cable manufacturing facility in Hickory where Meta will serve as the anchor customer, the company stated. “This long-term partnership with Meta reflects Corning’s commitment to develop, innovate, and manufacture the critical technologies that power next-generation data centers here in the U.S. The investment will expand our manufacturing footprint in North Carolina, support an increase in Corning’s employment levels in the state by 15 to 20 percent, and help sustain a highly skilled workforce of more than 5,000 – including the scientists, engineers, and production teams at two of the world’s largest optical fiber and cable manufacturing facilities. Together with Meta, we’re strengthening domestic supply chains and helping ensure that advanced data centers are built using U.S. innovation and advanced manufacturing,” said Wendell Weeks, Chairman and Chief Executive Officer, Corning Incorporated.