Corning CFO Ed Schlesinger addressed the Citi 2026 Global TMT Conference, noting that AI demand and long-term contracts are strengthening the company's outlook. The company is currently tracking at the high end or slightly better than its previous financial guidance.
A multi-billion dollar supply agreement with Verizon, announced September 8, serves as a primary growth driver. This partnership accelerates Corning's path toward a $1 billion annual data center interconnect opportunity.
To meet surging AI data center demand, Corning is increasing its U.S. fiber production capacity by over 50%. The company is also expanding its optical connectivity manufacturing capacity by 10x.
Management reiterated its long-term financial objective of reaching a $20 billion annualized sales run rate. The company expects to achieve this milestone by the end of 2026.