Corning Sees $20B Run Rate Early as Verizon Deal Fuels Data-Center Growth

The 27th China International Optoelectronic Exposition (CIOE) saw strong attendance, highlighting growth in optical communications. 800G optical modules dominate shipments, while 1.6T products are in low-volume supply but await downstream hardware readiness. Next-gen technologies like 12.8T XPO and 6.4T NPO were showcased, though not yet in mass production. Upstream supply constraints, particularly in optical chips and fiber, were noted. Companies like Zhihu Optronics (300308.SZ), Cambridge Tech

Apple launched the iPhone Duo at $1,999 and iPhone 18 Pro models, with pre-orders starting soon. Nvidia's CEO expects 70% revenue growth and is expanding into AI cybersecurity. Oracle and Adobe reported quarterly earnings above estimates, with Oracle's cloud revenue up 62%. A former AI researcher quit, raising safety concerns. Qualcomm and Amazon partnered on AI data center infrastructure.

Corning announced a $2 billion share-sale program, potentially issuing 12 million new shares, a 1.4% increase. The company appointed Goldman Sachs to sell shares via an ATM program. Corning's balance sheet shows strong liquidity, with $2.5 billion in cash and $2.1 billion in operating cash flow. The funds will be used for general corporate purposes, possibly including capital expenditures.

Corning (GLW) shares fell 2.7% after announcing a $2B equity offering program, raising dilution concerns. The company filed with the SEC, partnering with Goldman Sachs as the sales agent. Proceeds will be used for general corporate purposes, with no immediate obligation to sell shares.

Corning initiated an at-the-market equity program to sell up to $2.0 billion of common stock, with Goldman Sachs as the sales agent. The company will determine sale parameters and may sell shares based on market conditions and capital needs. Proceeds will be used for general corporate purposes, with Goldman Sachs receiving a 1.0% commission on gross proceeds. The sales will be made under Corning's Form S-3 shelf registration, with a prospectus supplement filed on September 11, 2026.

Verizon (VZ) and Corning (GLW) signed a multibillion-dollar deal for 80 million miles of fiber, supporting broadband and AI data centers. Corning's stock rose 14% in a week, while Verizon is up 29.99% year-to-date. Corning has similar deals with Meta, Amazon, and NVIDIA, driving its Optical Communications segment growth.