- Corning stock surged 9% to a record high after announcing a $500 million deal to supply NVIDIA with AI data center components.
- The multiyear collaboration aims to dramatically expand U.S. manufacturing of advanced optical connectivity for AI infrastructure.
- Nvidia will also purchase 3 million Corning shares for $0.0001 each and hold warrants to buy up to 15 million more at $180 per share.
- Corning plans to build three new U.S. factories, increasing optical product capacity tenfold and fiber production by 50%.
Shares of specialty glassmaker Corning soared 9% on Wednesday, hitting an all-time intraday high after sealing a monumental $500 million supply deal with Artificial Intelligence titan Nvidia. This partnership propels the traditional manufacturer firmly into the red-hot AI sector, fueling a year-to-date stock gain of over 102%.
In a joint press release, the companies announced a major collaboration to “dramatically expand U.S.-based manufacturing of the advanced optical connectivity solutions needed to power next-generation AI infrastructure.” Consequently, Corning will construct three new U.S. factories to meet exploding data center demand.
The expansion will increase manufacturing capacity for optical connectivity products tenfold and boost fiber production capacity by 50%. Meanwhile, Nvidia‘s strategic investment includes purchasing 3 million Corning shares for $0.0001 each, according to its regulatory filing.
Nvidia also secured warrants to buy up to 15 million additional shares at $180 each. This aggressive supply chain move follows Nvidia‘s pattern of securing components for its data center build-out.
Consequently, Nvidia stock also climbed 4% on Wednesday, bringing its year-to-date increase to 10%. The leading GPU maker, which struggled to break the $200 mark earlier in 2026, is now trading at $205.
However, Nvidia‘s share price had quickly erased gains after climbing to $216 in late April. The new deal with Corning could potentially propel the stock back toward previously forecast higher levels.
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