Verizon Commits to Buying 80 Million Miles of Fiber from Corning Through 2032
Verizon (VZ) has entered into a multi-billion dollar supply agreement with Corning (GLW), committing to purchase 80 million miles of fiber over the period between 2027 and 2032. The deal includes Corning's Contour Flow Cable, supporting both consumer broadband expansion and AI data center infrastructure needs for Verizon. This long-term contract ensures supply stability as part of its strategy to expand its fiber footprint significantly in the coming years. The agreement aligns with CEO Hans Vestberg’s goal of reaching 40-50 million fiber passings over the medium term, while also supporting potential multi-billion-dollar AI infrastructure revenue from hyperscalers. Verizon recently reported strong financial performance for Q2 FY2026, including $6.4 billion in free cash flow and a record number of broadband connections.
Topics: AI infrastructure fiber_optics telecom