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CEO NA Magazine > News > Corning shares jump after Amazon announces agreement to boost U.S. fiber optics manufacturing

Corning shares jump after Amazon announces agreement to boost U.S. fiber optics manufacturing

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Corning shares jump after Amazon announces agreement to boost U.S. fiber optics manufacturing
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The agreement, announced Monday, will unfold over several years and create 1,000 jobs at Corning’s North Carolina factories.

Amazon has recently invested over $20 billion in North Carolina.

Through the agreement, Amazon will work with Corning on a new program that will expand its Fiber Optic Technician Training Program with Catawba Valley Community College to train students for careers in fiber optic manufacturing and related technical roles. 

“Amazon’s investments in North Carolina have created more than 26,000 jobs across the state. This multibillion-dollar agreement with Corning continues that commitment, channeling investment into American manufacturing and creating 1,000 new jobs at their facilities near our data centers,” said Matt Garman, CEO of AWS. “We’re also partnering to train North Carolinians for highly skilled roles in fiber optics and fusion splicing. These long-term investments create long-term careers and real opportunity in the communities where we operate.”

Wendell P. Weeks, CEO and President of Corning, commented, “This agreement with Amazon represents a significant milestone for Corning and for American manufacturing. For 175 years, Corning has pioneered the technologies that connect people and transform industries. Amazon’s investment will help us expand production, create 1,000 new advanced manufacturing jobs at our facilities, and lead the way toward building a resilient U.S. manufacturing base.”

Corning’s fiber optic cable and networking solutions are increasingly essential components of AI infrastructure because they facilitate fast connections between data centers and the racks and chips they house. In May, Nvidia announced it would invest up to $3.2 billion in Corning, which includes plans for the glass company to build three new advanced manufacturing plants dedicated solely to the chipmaker. 

Weeks told investors last month, “In our Enterprise MAP, we expect to capture strong growth as AI data center cluster size increases in scale out – and optical scale up takes hold. In our new Photonics MAP, we plan to build a $10 billion revenue stream by 2030. Our newly announced partnership with NVIDIA to strengthen U.S. manufacturing for AI infrastructure highlights our opportunity with Gen AI OEM customers.”

Corning shares rose 4% following the announcement.

By CEO NA Editorial Staff

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