:max_bytes(150000):strip_icc()/GettyImages-2257538484-7194bfe29eb64602897beea0a91c4b4c.jpg "This Specialty Glassmaker’s Stock Is Soaring on an AI Data Center Deal With Meta")
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Key Takeaways
- Corning shares surged Tuesday after the glass and fiber optic cable maker announced a $6 billion deal with Meta to supply its data centers.
- The company is a supplier to several tech heavyweights including Nvidia and Apple, and has been a big beneficiary of the AI boom.
A deal with Meta Platforms (META) is the latest piece of good news boosting Corning (GLW) stock.
Corning and Meta announced $6 billion deal for Corning to supply the Facebook and Instagram parent with fiber optic technology and cables for its AI data centers. Corning said the deal will allow it to expand its manufacturing footprint in North Carolina with a new facility and increases in hiring.
Corning shares were up 17% around $111 in Tuesday afternoon trading following the announcement, near their record set during the dot-com bubble of 2000, while Meta shares were down less than 1%.
Why This Is Significant
The agreement with Meta marks the latest AI-driven deal for Corning, which makes fiber optic cables used in data centers, and has been a big beneficiary of the AI trade.
Corning’s stock soared more than 80% last year, following a 50% rise in 2024, thanks in part to a boost from AI-driven business. The company, which is a supplier to tech giants such as Nvidia (NVDA) and Apple (AAPL), routinely topped estimates and lifted its forecasts in 2025.
Wall Street analysts have said they expect Corning’s AI exposure and partnership with Apple could also provide more opportunities for future growth, including potentially making the complex glass required for a foldable iPhone.
Of the six analysts with current ratings tracked by Visible Alpha, five have issued “buy” ratings, compared to one “hold,” though the stock has already surpassed their mean target around $100 with its recent gains.
Investors could get further insights into Corning’s business when the company reports fourth-quarter earnings before the market opens on Wednesday. Meta is also set to release its latest results tomorrow, among a trio of the Magnificent Seven due to report.
