Synopsis
Amazon has partnered with Corning in a multi-billion dollar deal. This collaboration aims to significantly increase the production of optical fibre and connectivity products within the United States. The partnership will create 1,000 jobs in North Carolina. It also includes a training program for fiber optic technicians. Corning's products are vital for AI data centres.Listen to this article in summarized format
Amazon, however, did not disclose any further financial details on the partnership.
Shares of Corning rose about 7% in early trading, as the partnership came as a fresh boost to the company's fast-growing fiber optics unit, at a time when weak consumer electronics demand has weighed on the segment that makes Gorilla glass.
Here are more details on the partnership:
The multi-year partnership will create 1,000 jobs at Corning's North Carolina facilities, Amazon said.
Amazon and Corning will work together on a new initiative that will expand Corning's fiber optic technician training program with the Catawba Valley Community College in North Carolina to train students for roles in the facilities.
Corning's optical fiber products are crucial in moving data between thousands of processors in AI data centers. The company has already announced plans to increase U.S.-based optical connectivity manufacturing capacity tenfold and expand domestic fiber production capacity by more than 50%.
Last month, Corning signed a partnership with Nvidia to expand US manufacturing of fibre optics.
