Corning in Podcasts
companyAmerican multinational technology corporation known for manufacturing glass products, including for electronics.
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Shares in glassmaker Corning jumped on Wednesday after NVIDIA announced plans to invest $500 million to expand the company's fiber-optic manufacturing, which is used in AI data centers.
Shares of Corning are up around 18% this morning on this news and now up more than 260% over the past year.
Remember, Corning also signed a $6 billion deal with Meta earlier this year to supply them with fiber optic cables for their data centers.
So that's been a big boost for Corning's business.
So these fiber optic cables that Corning makes are the backbone of AI data centers now because they transfer data between chips at massive speeds.
As part of this initial investment, Corning will build three new manufacturing facilities in North Carolina and Texas to expand fiber optic cable production for AI data centers by 10X.
Most people know Corning as the company that makes the glass on your iPhone.
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