Corning shares rise 9% in pre-market trading as Amazon signs a multi-billion-dollar fiber deal

Huo Xing Finance reports that, as of June 8, according to market data, Corning rose 9% in pre-market trading, and Amazon rose 1.23%. On the news front, Amazon announced a multi-year, multi-billion-dollar agreement with Corning to procure its fiber optic products and network solutions to support the rapid expansion of its AI data centers across the United States. Both parties stated that the agreement is expected to create approximately 1,000 jobs at Corning’s facility in North Carolina and expand local training programs for fiber optic technicians. Matt Garman, CEO of AWS, said Amazon’s investments in North Carolina have already generated over 26,000 jobs, and last year Amazon pledged an additional $10 billion to build new data centers in the state. As demand for AI computing power surges, fiber optic connectivity has become a critical infrastructure for high-speed interconnections between data center racks and chips. This partnership marks another major AI infrastructure order for Corning this year. Previously, in January, Meta committed up to $6 billion to support Corning’s expansion of its North Carolina fiber optic cable factory, and in May, NVIDIA announced it would invest up to $3.2 billion in Corning to build three advanced manufacturing facilities dedicated exclusively to NVIDIA. Benefiting from growing demand for AI infrastructure, the 175-year-old company is experiencing a new growth phase—its stock has more than doubled this year and has risen nearly sixfold since the end of 2023.