Corning Incorporated (NASDAQ:GLW) shares are up on Wednesday, as the company announced a significant expansion of its U.S. manufacturing capabilities.
This move comes in response to the growing demand for optical connectivity solutions driven by the AI infrastructure boom, as detailed in a recent partnership with Nvidia Corporation (NASDAQ:NVDA).
Corning plans to increase its U.S. optical connectivity manufacturing capacity tenfold and expand fiber production by more than 50%, which includes constructing three new manufacturing plants in North Carolina and Texas.
This expansion is expected to create over 3,000 high-paying jobs, reinforcing Corning’s position as a leader in the optical fiber market.
AI Growth Accelerates
Corning upgraded and extended its Springboard growth plan, targeting a $20 billion annualized sales run rate by the end of 2026.
The company now expects a high-confidence path to $27 billion in annualized sales by 2028, while its internal target rises to $30 billion.
Corning also extended the plan through 2030, outlining a high-confidence target of $35 billion in annualized sales and an internal …
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