AT&T signs $3 billion contract with Corning

AT&T has signed a multi-year contract with Corning worth more than $3 billion. Under the agreement, Corning will manufacture optical fiber and cables for the American telecommunications company.

AT&T is expanding its network as the use of video, cloud services, AI applications, and internet-connected devices continues to grow.

According to the company's data, a single household connected to the fiber network now consumes more than one terabyte of data per month on average. That's five times higher than the figure in 2016.

The company aims to make fiber internet available to 60 million addresses by the end of the decade. Its $5.75 billion acquisition of Lumen's fiber business will also help achieve this goal.

AT&T states that it plans to invest more than $250 billion in US communications infrastructure over the next five years. The contract with Corning is part of this program and will help AT&T secure a stable supply of materials needed for network construction.

Source: Reuters