Corning (GLW) Stock Surges 13% to New High After Nvidia Deal

Corning shares soared 9% on Wednesday, hitting an intraday record high after announcing a $500 million deal with Nvidia. The agreement positions Corning as a key supplier of optical components for Nvidia's AI data center expansion. Year-to-date, Corning's stock has surged over 102%, buoyed by its strategic pivot into AI infrastructure.

Nvidia and Corning unveiled a multiyear collaboration to scale U.S. manufacturing of advanced optical connectivity solutions. The partnership includes Nvidia's purchase of 3 million Corning shares at $0.0001 each, with warrants for up to 15 million additional shares at $180 apiece. Corning plans to build three new U.S. factories, aiming to decuple optical product capacity and boost fiber production by 50%.

Nvidia shares climbed 4% on the news, extending its YTD gain to 10%. The GPU leader has been aggressively securing supply chain partnerships to meet booming data center demand. After struggling to break $200 in 2026, Nvidia's latest move signals renewed momentum in its infrastructure push.