Nvidia to invest up to $3.2 billion in Corning as part of massive optical fiber deal with 3 new factories focused on AI.
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Nvidia to invest up to $3.2 billion in Corning as part of massive optical fiber deal with 3 new factories focused on AI. Published Wed, May 6 20267:30 AM EDT Updated Wed, May 6 20264:12 PM EDT Key Points * Corning is opening three new advanced manufacturing plants in the U.S. dedicated entirely to optical technologies for Nvidia. * The partnership brings together two of the infrastructure companies benefiting the most from the artificial intelligence boom. * Corning shares are up more than 250% in the past year, boosted by a recent deal with Meta worth up to $6 billion. VIDEO 03:08 Corning and Nvidia team up to expand fiber optic production in the U.S. for AI Nvidia, the chipmaker at the center of the artificial intelligence boom, is partnering with glassmaker Corning for three new advanced manufacturing facilities in North Carolina and Texas dedicated entirely to optical technologies for the world's most valuable semiconductor company. The factories will lead to the creation of at least 3,000 jobs and increase Corning's U.S. optical manufacturing capacity by tenfold, the companies said in a joint press release Wednesday. Financial terms weren't disclosed. Corning shares climbed 12% on the news. Nvidia stock gained almost 6%. The deal gives Nvidia the right to invest up to $3.2 billion in Corning. Nvidia is getting warrants to buy up to 15 million Corning shares at...
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