Corning (GLW), best known for making the glass on iPhone screens, saw its shares rally by 12% in yesterday's trading session after it bagged a deal from chip giant Nvidia (NVDA) to enhance the latter's fiber-optic connectivity. Moreover, the deal will involve the companies jointly building three new manufacturing plants in North Carolina and Texas, with the potential to generate more than 3,000 jobs.
Commenting on the development, Corning's President and CEO, Wendel Weeks, said, "What NVIDIA is doing is nothing short of extraordinary, not just for the future of artificial intelligence, but for the American advanced manufacturing workforce. Their commitment is directly fueling the expansion of our U.S. manufacturing footprint and creating more than 3,000 new high-paying jobs for American workers. This partnership is proof that AI is not just a technology story. It is a manufacturing story, and it is happening here in the United States. Together with NVIDIA, we are ensuring the critical technologies powering AI are invented, engineered, and built in America."
