Corning's Optical Connectivity Products Fuel Record Sales Amid AI Network Boom

Benzinga
Benzinga
  • 20 days ago
Corning's stock price increased 12% after the company raised its second-quarter earnings guidance. Corning credits stronger-than-expected demand for its optical connectivity products that power AI networks for its outperformance. These products allow networks to run generative artificial intelligence applications. Corning's CEO said the company had developed new fibers, cables, connectors, and custom-integrated solutions to reduce installation costs and time for AI network infrastructure significantly. The company expects sales to increase throughout the rest of 2024 as market conditions continue improving from the impacts of the pandemic.

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