**Corning to Expand Optical Data Center Production with Nvidia Partnership**
Corning Inc. (NYSE: GLW) announced plans to enhance its optical data center component production by constructing three new manufacturing facilities in Texas and North Carolina. This initiative, aimed at meeting soaring demand for AI infrastructure, will allow Corning to increase U.S. production of optical connectivity products tenfold and optical fiber by 50%.
In a significant investment, Nvidia (NASDAQ: NVDA) will immediately invest $500 million to acquire 3 million shares, with an option to purchase up to 15 million additional shares at $180 each for $2.7 billion. This partnership signifies both companies’ commitment to advancing optical connectivity solutions crucial for next-generation AI data centers, which are expected to improve data speed and reduce energy consumption.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
