Verizon signs $1 billion dark fiber deal with Google
Verizon Communications has signed a multi-billion dollar agreement to provide dark fiber connectivity for Alphabet's Google, supporting the tech giant’s AI data center expansion. The CEO of Verizon, Dan Schulman, revealed this during an earnings call and described it as part of a broader strategy into AI infrastructure. This deal positions Verizon as a key player in connecting large-scale computing facilities across the U.S., leveraging its existing fiber assets. The announcement led to immediate market reactions: shares of both Alphabet and Verizon rose slightly on Friday, with Verizon's stock up over 3%. Schulman emphasized that this agreement is just one example of future contracts expected by year-end. These upcoming deals are anticipated to generate billions in revenue through long-term arrangements with high-tech infrastructure clients. The deal highlights the growing demand for robust connectivity solutions as hyperscalers like Google expand their AI capabilities, and it underscores Verizon's strategic shift toward capitalizing on this emerging market.