Corning Soars 17% on $6B Meta AI Data Center Supply Deal

Corning Inc. (GLW) shares surged 17% to approximately $111 on January 27 after announcing a $6 billion agreement to supply Meta Platforms (META) with fiber optic technology for AI data centers. The deal will expand Corning's manufacturing footprint in North Carolina with new facilities and increased hiring. The specialty glassmaker's stock has gained over 80% in the past year and 50% in 2024, driven by AI-related demand. Corning supplies major tech firms including Nvidia (NVDA) and Apple (AAPL), and has consistently exceeded earnings expectations. Five of six analysts tracked by Visible Alpha maintain "buy" ratings, though the stock has surpassed their mean $100 target. Corning reports Q4 earnings on January 28, coinciding with Meta's results release.