US Stock Market Move | Reached a long-term cooperation agreement with NVIDIA Corporation, Corning Inc (GLW.US) opens up with a sharp increase of over 12%.

On Wednesday, Corning Inc (GLW.US) opened with a huge surge of over 12%, setting a new historical high and a total increase of 107% so far this year. In terms of news, on May 6th, NVIDIA Corporation reached a multi-year commercial and technical cooperation agreement with Corning Inc. According to the agreement, Corning Inc will build three advanced manufacturing facilities in North Carolina and Texas specifically to produce optical connection solutions for NVIDIA Corporation. In addition, NVIDIA Corporation has acquired $500 million worth of stock purchase rights in Corning Inc. Corning Inc plans to increase its optical connection manufacturing capacity in the United States by 10 times and increase fiber optic production by over 50%. This expansion directly responds to the demand growth driven by the acceleration of AI factory construction. Both companies stated that modern AI workloads require thousands of NVIDIA Corporation GPUs, leading to an unprecedented demand for high-performance optical fibers, connectors, and photonic components.