Corning, Qualcomm Lift AI Infrastructure Stocks With Multibillion-Dollar Deals
Updated
Updated · CNBC · Sep 8
Corning, Qualcomm Lift AI Infrastructure Stocks With Multibillion-Dollar Deals
3 articles · Updated · CNBC · Sep 8
Summary
Corning jumped 8% and Qualcomm rallied Tuesday, helping spark a broader AI-infrastructure surge that sent Intel up 9%, HPE up 8%, Coherent up 7% and AMD up 6%.
Corning said it struck a multibillion-dollar partnership with Verizon to build fiber-optic cables for AI connectivity, reinforcing bets that data-center spending will stay strong.
Qualcomm disclosed warrants letting Amazon buy up to $4 billion of its stock as part of an AWS pact to purchase up to $60 billion of server chips and related technology.
Qualcomm said Amazon chip revenue will begin in the December quarter and be a core piece of its $15 billion fiscal-2029 data-center target, while AMD raised its 2030 semiconductor market view to $3 trillion.
The rally extends an AI buildout already spreading beyond Nvidia, even as 71% of Americans oppose data centers in their communities and developers face rising political risk.