Amazon Is the Latest AI Giant to Sign a Blockbuster Deal With This Under-the-Radar Semiconductor Company (Behind Nvidia and Meta)
Written by Anthony Di Pizio for The Motley Fool -> Corning has manufactured glass for some of the world's most revolutionary products since it was founded in 1851. Demand is soaring for the company's optical fiber solutions, which help accelerate artificial intelligence workloa
Corning has manufactured glass for some of the world's most revolutionary products since it was founded in 1851.
Demand is soaring for the company's optical fiber solutions, which help accelerate artificial intelligence workloads in data centers.
Corning just signed a major optical fiber supply deal with Amazon, adding to an impressive customer list that also includes Nvidia and Meta.
Corning (NYSE: GLW) has manufactured glass right here in America since 1851. By 1880, it was the sole supplier of glass for Thomas Edison's original lightbulb, and today, it makes the glass for all of Apple 's iPhones.
However, Corning stock has soared by 230% over the past 12 months because of red-hot demand for the company's fiber-optic cables for data centers, which help accelerate processing speeds in artificial intelligence (AI) workloads.
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On Monday, June 8, Amazon announced a multiyear deal to purchase billions of dollars' worth of Corning's optical connectivity solutions, joining Meta Platforms and Nvidia , which have recently made large commitments of their own. These deals could fuel explosive growth in Corning's revenue and earnings, so should investors buy its stock right now?
Nvidia's flagship NVLink 72 data center rack includes 72 graphics processing units ( GPUs ), 36 central processing units (CPUs), and a series of networking components. It's all connected using two miles of copper cables, but there is an ongoing shift toward fiber-optic cables instead, because they can transmit data faster and farther, while consuming far less energy.
