AT&T inks $3 B multi-year fiber supply pact with Corning as data demand soars

T and GLW announced on Tuesday a multi-year agreement valued at more than $3 billion, under which Corning will supply the fiber and cable AT&T needs to expand its network. Neither company disclosed the length of the contract, volumes or pricing, so the headline value is the main hard number.

The deal is tied to AT&T's fiber buildout. The companies said the network expansion is meant to bring fiber internet to 60 million Americans by the end of 2030, a target Reuters described as 60 million fiber locations. They framed demand in data terms: the average AT&T Fiber household now uses more than 1 terabyte a month, 5x more than in 2016, and usage is expected to reach 2 to 2.5 terabytes by 2030. AT&T's broader pledge of more than $250 billion over five years for U.S. connectivity infrastructure is a separate, earlier commitment, and the Corning contract is one supply line within that spend. The relationship is not new: the two signed a $1 billion multi-year deal in October 2024, and Corning CEO Wendell Weeks called this agreement "the next chapter" in the partnership.

Corning shares rose about 3% in premarket trading, and our data showed GLW up 4.0% at $157.64 by midday. For Corning, the contract adds multi-year visibility to an optical communications business already riding AI-driven data center and network demand. Broadband Breakfast reported that Verizon signed a similar Corning supply deal earlier in September, which suggests carriers are locking in fiber supply ahead of their buildouts.

What to watch: whether Corning quantifies the contract's revenue contribution on its next earnings call, how quickly AT&T converts fiber passings into subscribers, and whether other carriers follow with their own long-term supply agreements.