Verizon and Corning Ink Multibillion-Dollar Fiber Deal

Verizon and Corning have finalized a multibillion-dollar agreement for Corning to supply Verizon with more than 80 million miles of optical fiber, extending through 2032. The deal, announced Tuesday, is set to significantly bolster Verizon's network expansion efforts and provide critical infrastructure for artificial intelligence applications. The multiyear partnership, which begins in 2027 and runs until 2032, will see Corning deliver advanced optical fiber products and comprehensive connectivity solutions. This agreement is designed to accelerate Verizon's plans to expand its fiber footprint, with the company aiming to reach between 40 million and 50 million passings. The fiber will support both the buildout of its Fios network for consumers and provide backbone connectivity for data centers crucial to AI computing. Verizon's strategy includes its "AI Connect" program, which focuses on direct connections to data centers, a move spurred by discussions with hyperscalers and enterprise service providers. The company is also retrofitting central offices into data centers to support edge computing.