Amazon Is the Latest AI Giant to Sign a Blockbuster Deal With This Under-the-Radar Semiconductor Company (Behind Nvidia and Meta)
This company is applying its 175 years of experience to transform the artificial intelligence industry.
Amazon Is the Latest AI Giant to Sign a Blockbuster Deal With This Under-the-Radar Semiconductor Company (Behind Nvidia and Meta)
Overview
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.
Details
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?
Source
Originally published at www.fool.com.
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