Corning ($GLW) shares surged after Nvidia ($NVDA) bought rights tied to up to $2.7 billion of Corning stock and the companies announced a U.S. fiber-optic manufacturing expansion, weeks after Rep. Maria Elvira Salazar disclosed Corning stock purchases.
- Nvidia received rights tied to up to 18 million Corning shares, including 3 million pre-funded shares purchased for $500 million.
- Corning said it will expand U.S. optical connectivity manufacturing capacity 10-fold and increase domestic fiber production capacity by more than 50%.
- The expansion includes three new manufacturing facilities in North Carolina and Texas and more than 3,000 new U.S. jobs.
- Salazar made two purchases between $15,001 and $50,000 of Corning stock on March 19.
- The purchase came 12 days before Corning and Meta ($META) announced an up to $6 billion fiber-optic manufacturing expansion tied to AI data centers.
- Shares of Corning stock are up over 30% now since Rep. Salazar's trade
- Salazar sits on the House Financial Services Committee, including the Capital Markets subcommittee.
- Corning lobbying disclosures show $1.69 million in 2026 spending, including issues tied to fiber-optic cable capacity, broadband, AI infrastructure, CHIPS Act implementation, optical communications, and semiconductor supply chains.
Relevant Companies
- Corning ($GLW) – Partnering with Nvidia and Meta to expand U.S. optical infrastructure for AI data centers.
- Nvidia ($NVDA) – Investing in Corning optical technologies to support AI infrastructure scaling.
- Meta ($META) – Expanding AI data center infrastructure through a multibillion-dollar Corning fiber agreement.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
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