AT&T Partners with Corning for $3 Billion Fibre Optic Cable Deal
In a significant move to bolster its network infrastructure, AT&T has officially inked a multi-year agreement with Corning to purchase fibre optic cables valued at over $3 billion. This partnership is a crucial step in AT&T’s ambitious plan to connect 60 million homes and businesses with high-speed fibre optic internet by the year 2030.
Progress Towards Fibre Optic Expansion
As of June this year, AT&T has already reached the milestone of connecting 30 million locations, achieving this target six months ahead of its original schedule. In its second-quarter financial report, the company revealed a robust addition of 646,000 net subscribers across consumer and business internet segments. Notably, among these, 367,000 were fibre optic internet subscribers, marking a record quarter for growth in both fibre and fixed wireless categories for AT&T.
A Long-Standing Partnership
This new fibre agreement builds upon a previous partnership established two years ago between AT&T and Corning, which was valued at $1 billion. Their collaboration has included significant investments aimed at enhancing cable manufacturing capabilities, exemplified by AT&T’s role as a core investor in Corning’s cable manufacturing facility in Arizona, which was launched in 2022.
As AT&T moves forward with this substantial investment in fibre optic technology, the partnership with Corning exemplifies a strategic focus on expanding broadband access and improving internet reliability for millions across the United States.
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