Nvidia, Corning
Digest more
Corning (NYSE:GLW) shares jumped 14% Wednesday following the announcement of a multiyear partnership with NVIDIA (NASDAQ:NVDA) to expand U.S. manufacturing of optical connectivity solutions for AI infrastructure.
StockStory.org on MSN
Nvidia (NVDA) stock is up, what you need to know
What Happened? Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 4.4% in the afternoon session after the company announced a partnership with Corning amid strong earnings reports from peer companies in the semiconductor sector.
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.
Corning is going to have a seat at the artificial intelligence table for many, many years to come. The maker of fiber optic cables drove that point home at its investor day Wednesday, laying out encouraging long-term financial forecasts and announcing a major supply agreement with AI chip king Nvidia to bring more of its glass technology inside data centers.