Corning to Supply Amazon Data Centers with Fiber Optics

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Written by Eric Funderburk for IIR News Intelligence (Sugar Land, Texas)

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Summary

Months after a similar agreement was announced with Meta Platforms, Corning has signed a deal to supply Amazon data centers with fiber optics components.

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Another Multibillion-Dollar Contract

Certain companies have been on the receiving end of windfalls caused by the boom in artificial intelligence (AI) applications and data infrastructure. Demand for NVIDIA's graphics chips have been a substantial multiplier of that company's earnings. Another company on the receiving end of billions of dollars of AI-prompted sales is Corning, specifically for its fiber optics technology.

Corning this week announced a multibillion, multiyear deal to supply its fiber optics components to data center behemoth Amazon, news of which of caused Corning's share price to shoot up Monday morning. The move adds to another multibillion-dollar supply agreement announced earlier this year with Meta Platforms, as well as a partnership with NVIDIA to expand U.S. fiber optic cable production. For more on the Corning-Meta agreement, see January 28, 20206, article - Corning Signs $6 Billion Deal to Supply Meta with Fiber-Optic Cable.

The influx in business has prompted Corning to expand its operations at existing plants, and the latest deal with Amazon came with the news that the contract would bring 1,000 new jobs to North Carolina, where a substantial amount of Corning's operations are located. Industrial Info Resources data find more than $1 billion worth of underway and potential Corning fiber optic cable projects in North Carolina, including expansions and possible grassroot construction as well as planned maintenance projects at the company's existing fiber optics plants in Wilmington and Midland.

Corning this year began expanding its optical fiber plant in Hickory, North Carolina, adding up to 156,000 square feet to boost the plant's production.

Potential Grassroot Projects

But that's not all that might be in store for North Carolina. In May, Corning signed an investment agreement with NVIDIA to expand its fiber optic cabling-manufacturing capacity in the U.S. by 50%, prompting the announcement of new plants in Texas and North Carolina, although these multibillion-dollar plans remain in a very early stage.

Corning's earlier agreement with Meta prompted the company to make plans for a grassroot fiber optic cable plant in Newton, North Carolina, construction of which is set to begin later this year and expected to last well into 2028.

Outside Fiber Optics

Corning also manufactures products outside of fiber optic cabling, including components for the solar power and pharmaceutical sectors. The company is just wrapping up construction of one its largest recent projects: a grassroot plant to manufacture solar wafers and ingots in Hemlock, Michigan.

Amazon Data Center Buildout

Industrial Info Resources data includes reports for more than $266 billion worth of Amazon data center activity in the U.S., although not all of these plans will move forward. One of the company's potentially largest data center buildouts could be built in Richmond County, North Carolina, where the company's Blue Marlin project could lead to a complex of up to 20 data center buildings.

Key Takeaways

• Corning has a signed to a multibillion-dollar deal to supply Amazon data centers with fiber optic components.
• The move comes after another multibillion-dollar supply deal was reached between Corning and Meta Platforms earlier this year.
• The Amazon and Meta deals, along with another agreement with NVIDIA, have led to plans for new and expanded Corning plants and job creation, with North Carolina being a prime destination.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).