All articles tagged with #corning
Corning fell 16% after reporting Q2 results that beat earnings and revenue estimates, but issued a current-quarter core revenue forecast of $4.9–$5.0 billion below Wall Street expectations, sparking a broader selloff in optical-name stocks tied to AI data-center demand; the company highlighted growth in fiber optics and networking solutions and noted ongoing multi-year deals with hyperscalers such as Amazon.
Some handset makers are moving away from Gorilla Glass in favor of own glass-ceramic or Shield Glass solutions (e.g., Honor NanoCrystal Shield, Xiaomi Shield Glass) to improve durability, weight, and curved-screen performance. Honor cites cost and fit issues with Gorilla Glass, while Xiaomi says its shields optimize durability and experience. Independent testing on these claims is inconclusive, and Gorilla Glass remains widely used by many major brands, with Apple using Ceramic Shield instead of Gorilla Glass. Consumers should pay attention to screen material when evaluating devices.
Nvidia's Jensen Huang touts a collaboration with Corning to dramatically expand U.S. optical manufacturing for AI, including three new facilities in Texas and North Carolina that will create more than 3,000 jobs and strengthen the domestic supply chain as AI infrastructure grows.
Corning (GLW) surged about 12% after unveiling a partnership with NVIDIA to supply fiber-optic components for AI data-center infrastructure, with NVIDIA investing $500 million and plans for three new U.S. plants to boost optical-connectivity capacity tenfold. Despite the rally, technicals still flag GLW as a Buy, while the consensus price target of $168.91 suggests some downside risk from current levels.
NVIDIA and Corning announced a multiyear partnership to dramatically expand U.S.-based optical connectivity and fiber manufacturing for AI infrastructure, boosting capacity 10x and fiber output by over 50%, with three new plants in North Carolina and Texas and more than 3,000 new high‑paying American jobs to support NVIDIA‑accelerated data centers.
Nvidia stock rose about 4.4% midday after the company announced a deal to invest in Corning to add three new optical manufacturing plants in North Carolina and Texas, advancing its AI infrastructure push. The arrangement includes Nvidia’s option to invest up to $2.7 billion in Corning and warrants for up to 15 million Corning shares (exercise price $180) plus a pre-funded warrant for 3 million shares, continuing a string of optics-focused investments that began with earlier partnerships with Coherent and Lumentum. The move underscores Nvidia’s strategy to own more of the AI hardware supply chain as demand for faster, light-speed AI infrastructure grows.
Health-care stocks tumbled after the CMS proposed keeping private Medicare Advantage payments nearly flat for 2027, with UnitedHealth and Humana down about 20%–21% and insurers like CVS/Elevance also lower. Micron rose ~5% on a $24 billion Singapore investment plan. General Motors jumped ~9% after strong earnings and a 20% dividend hike to 18 cents. CoreWeave advanced ~11% on an expanded Nvidia partnership and a $2 billion investment, while Corning rose ~16% on a multiyear Meta data-centers materials deal. Other notable moves included RTX up ~3.7%, Northrop Grumman higher, Boeing down ~1.6%, and airline and steel names among the decliners.
Corning CEO Wendell Weeks recounted how Steve Jobs challenged him to produce the first iPhone screens, pushing him to overcome fears and take a significant risk, which led to the successful development of Gorilla Glass and a lasting partnership with Apple that continues to evolve with a $2.5 billion investment in U.S. manufacturing.
Apple CEO Tim Cook discussed the iPhone Air's impressive battery life, highlighting its internal engineering and eSIM-only design, during a visit to Corning's factory. He also announced Apple's significant investment in domestic manufacturing, including transforming the Harrodsburg factory into a dedicated glass producer for Apple products, as part of the company's broader 'American Manufacturing Program.'
Apple is investing $2.5 billion in Corning's Kentucky plant to make it the exclusive producer of cover glass for all iPhones and Apple Watches, with plans to triple capacity and increase workforce, strengthening U.S. manufacturing and community ties.
Corning Inc., a 173-year-old glass company, has evolved from producing glass for Edison's lightbulb to becoming a key player in Silicon Valley, known for innovations like Gorilla Glass and optical fiber. Under CEO Wendell Weeks, Corning has navigated challenges like the dotcom crash and is now focusing on next-generation optical fibers to support AI and data centers. The company's adaptability and commitment to innovation have solidified its partnerships with tech giants and its position in the market.
The upcoming iPhone 17 is rumored to feature a new scratch-resistant and anti-reflective display, surpassing the current Ceramic Shield technology. The new display is said to be more resistant to scratches and reflections, potentially matching the properties of Samsung's Gorilla Glass Armor. It's unclear whether Apple will adopt this technology from Corning, a long-time supplier, or develop an equivalent in-house. Apple's investment in Corning's glass processes has led to the creation of Ceramic Shield, and the company has a history of using Corning's Gorilla Glass in its products.
Corning's new Gorilla Armor, featured on the Galaxy S24 Ultra, offers improved drop and scratch resistance as well as an antireflective design, making it a significant upgrade in smartphone glass technology. Despite its durability, the future availability of Gorilla Armor on other devices remains uncertain. In other tech news, Google releases the March 2024 Feature Drop for Pixel devices, Tidal slashes its Hi-Fi audio subscription price in half, and Google One now includes Fitbit Premium and Nest Aware.
Samsung's new Galaxy S24 Ultra features Corning's latest Gorilla Armor, a material that is 75% less reflective and four times more scratch-resistant than typical glass. The Gorilla Armor is exclusive to the premium Galaxy S24 Ultra and is made of 25% pre-consumer recycled content. It also enhances visibility in direct sunlight and is expected to make the phone more durable. The flagship smartphone also boasts a 200MP primary camera, advanced zoom capabilities, a new Snapdragon chip, and various AI features.
Corning has announced its latest display cover, Gorilla Armor, which debuts on the Galaxy S24 Ultra. The new panel offers increased durability, reduced reflection, improved scratch resistance, and enhanced optics. Made from 25% pre-consumer recycled content, it aims to provide better clarity for the AMOLED display. The Galaxy S24 Ultra is available for pre-order and is set to be released by the end of January.