Amazon, Corning sign multi-billion-dollar deal to boost fiber optics manufacturing in US
The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., February 14, 2019. REUTERS/Brendan McDermid
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June 8 : Amazon said on Monday it has signed a multi-billion-dollar deal with specialty glass maker Corning aimed at boosting U.S. production of optical fiber and connectivity products that are used in data centers.
Amazon, however, did not disclose any further financial details on the partnership.
Shares of Corning rose about 7 per cent in early trading, as the partnership came as a fresh boost to the company’s fast-growing fiber optics unit, at a time when weak consumer electronics demand has weighed on the segment that makes Gorilla glass.
Here are more details on the partnership:
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• The multi-year partnership will create 1,000 jobs at Corning’s North Carolina facilities, Amazon said.
• Amazon and Corning will work together on a new initiative that will expand Corning’s fiber optic technician training program with the Catawba Valley Community College in North Carolina to train students for roles in the facilities.
• Corning’s optical fiber products are crucial in moving data between thousands of processors in AI data centers. The company has already announced plans to increase U.S.-based optical connectivity manufacturing capacity tenfold and expand domestic fiber production capacity by more than 50 per cent.
• Last month, Corning signed a partnership with Nvidia to expand U.S. manufacturing of fiber optics.
Source: Reuters
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