Corning Stock Jumps 9% on $5 Billion NVIDIA Deal for AI Data Centers

2026-05-07 04:31

Corning Corporation's stock surged 9% on Wednesday, reaching an all-time high, following the announcement of a $5 billion deal with NVIDIA. The agreement involves Corning supplying components for NVIDIA's AI data centers, marking a significant expansion in optical connectivity solutions in the U.S. Corning plans to build three new factories to boost production capacity tenfold. NVIDIA will purchase 3 million Corning shares at a nominal price and holds warrants for up to 15 million shares at $180 each. This collaboration aims to meet the growing demand for AI infrastructure. NVIDIA shares also rose 4% on the news, as the company continues to strengthen its supply chain for data center components.

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