AT&T Strikes $1 Billion Deal with Corning to Expand High-Speed Fiber Network

AT&T has announced a $1 billion multi-year agreement with Corning Inc. for fiber, cable, and connectivity solutions. According to Reuters, the deal represents AT&T’s latest move to strengthen its broadband infrastructure as the telecom industry faces a shift from traditional wireless growth to high-speed internet services.

With the U.S. wireless market showing signs of stagnation, AT&T and other major telecom providers, including Verizon, have pivoted their focus toward expanding fiber networks, a sector traditionally dominated by broadband giants like Comcast. As demand rises for bundled services that offer both high-speed fiber and wireless phone options, AT&T is positioning itself to capitalize on the trend. The company’s new agreement with Corning aims to streamline its network expansion while minimizing costs, a move expected to solidify its presence in the competitive broadband landscape.

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AT&T’s fiber division has seen steady growth, though recent quarterly results indicate some challenges. The company recorded 28.3 million “fiber passings”—the number of potential customer locations accessible by its fiber network—by the end of the third quarter. It remains on track to exceed 30 million passings by 2025, according to company projections. Despite this progress, AT&T’s third-quarter fiber subscriber growth, at 226,000 new customers, fell short of market expectations set by Visible Alpha, which had forecast 257,860 additions. The shortfall was attributed to a work stoppage that began in August in AT&T’s southeast region, delaying numerous fiber installations.

Per Reuters, AT&T’s efforts in fiber expansion reflect broader shifts within the industry as telecom companies aim to secure market share in high-speed broadband—a sector increasingly prioritized as wireless growth stabilizes. The Corning deal not only supports AT&T’s expansion goals but also positions it to offer faster and more cost-effective solutions for residential and commercial customers alike.

Source: Reuters