Corning Inc. saw its stock surge 9% to an intraday record high following the announcement of a major deal with Nvidia. The glass and fiber optic hardware company secured a $500 million agreement to supply components for Nvidia’s AI data center expansion. As part of the multiyear collaboration, Nvidia will purchase 3 million Corning shares at $0.0001 each and holds warrants for 15 million more shares at $180 each. Corning plans to build three new U.S. factories, aiming to increase its optical connectivity manufacturing capacity tenfold and boost fiber production by 50% to meet rising AI infrastructure demand.
Corning stock jumped 9% on Wednesday, reaching an intraday record high after announcing a new $500 million deal with Nvidia. The glass manufacturer will supply components for the artificial intelligence leader’s data center build-out, with its shares now up over 102% year-to-date.
In a joint press release, the companies announced a major multiyear collaboration to “dramatically expand U.S.-based manufacturing of the advanced optical connectivity solutions needed to power next-generation AI infrastructure.” According to its regulatory filing, Nvidia will purchase 3 million shares of Corning at $0.0001 each and holds warrants to buy up to 15 million shares for $180 each.
Corning stated it would build three new factories in the US to expand manufacturing capacity for optical connectivity products tenfold. The company also plans to increase its fiber production capacity by 50% to meet accelerating demand from AI data centers.
NVIDIA stock also rose 4% on Wednesday and is up 10% year-to-date. The leading GPU maker has been aggressively signing supply chain agreements with fiber-optic and optical communications companies to keep up with data center demand.
The company struggled in the charts in 2026, unable to breach the $200 mark. It climbed to $216 in late April before quickly erasing all gains and is presently trading at $205.
