AI Infrastructure Stocks Rise Following Major Deals by Qualcomm and Corning
Corning and Qualcomm saw significant gains after announcing major infrastructure deals, boosting AI-related stocks like Intel and AMD. Qualcomm entered a partnership with Amazon involving $4 billion in stock warrants as part of an agreement for AWS to purchase up to $60 billion worth of server chips from the chipmaker over time. Corning revealed a multibillion-dollar deal with Verizon to build fiber-optic cables, enhancing AI connectivity. The deals have bolstered investor confidence that data center spending will remain robust in 2026 and beyond. Qualcomm's CFO noted revenue from Amazon-related manufacturing would begin contributing by the December quarter, helping achieve its $15 billion data center revenue target for fiscal 2029. AMD’s CFO highlighted a growing total addressable market expected to reach $3 trillion by 2030. Despite strong investor enthusiasm, public opposition toward AI and data centers remains high in some regions of the U.S., with potential financial risks acknowledged as companies like Anthropic prepare for IPOs.
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Topics: AI data centers fiber-optic cables infrastructure partnerships