SAP Expands Sovereign Cloud Portfolio to Strengthen Europe's Tech Independence

Corning's stock rose 1.2% in premarket trading after UBS upgraded the technology company, citing ongoing benefits from artificial intelligence. The upgrade is based on continued growth in AI-driven fiber, which is expected to drive the company's performance.

Title: Corning Stock Upgrades Amid AI-Driven Fiber Growth

Corning (NYSE: GLW) saw its stock rise by 1.2% in premarket trading following an upgrade by UBS to a "Buy" rating, citing the company's ongoing benefits from artificial intelligence. The upgrade was based on the continued growth in AI-driven fiber, which is expected to drive Corning's performance.

UBS analyst Joshua Spector upgraded Corning to a "Buy" rating from "Neutral" and boosted the price target to $84 from $65. Spector noted that the market is not fully modeling the fiber content uplift in AI datacenters, which is expected to outpace hyperscaler capex growth in 2027-2029 [1]. Corning's Optical division is projected to deliver a ~27% sales CAGR through 2027, which will drive much of the company's ~13% sales CAGR over this period.

The total addressable market for fiber is expanding, with data centers requiring between four and sixteen times more fiber content. Corning is signing contracts to connect datacenters inside their campuses and long distances. In the longer term, co-packaged optics will need another two to three times more fiber content, and with new innovations from Corning, companies can get between 40% and 80% more cabling in existing infrastructure [1].

Additionally, there is a significant opportunity in the U.S. solar market, where Corning has roughly 80% of restarted capacity over the next five years. This could boost annual sales by approximately $1.5 billion [1].

To further support the U.S. solar supply chain, Corning has entered into a strategic commercial agreement with T1 Energy Inc. Under this agreement, T1 will source hyper-pure polysilicon and solar wafers produced by Corning at its Michigan campus. These components will be used to manufacture solar modules at T1’s operational G1_Dallas site, starting in the second half of 2026. The agreement aims to deliver a more stable and predictable supply of domestically sourced solar components, supporting long-term planning, regulatory compliance, and energy resilience [2].

The agreement between Corning and T1 Energy will help invigorate America with scalable, reliable, low-cost energy, supporting thousands of jobs and advancing energy security. "This landmark supply chain agreement with Corning will help invigorate America with scalable, reliable, low-cost energy," said Daniel Barcelo, T1’s CEO and Chairman of the Board [2].

References

[1] https://seekingalpha.com/news/4491034-corning-in-focus-as-ubs-upgrades-on-back-of-ai-growth
[2] https://www.dqindia.com/esdm/t1-energy-and-corning-deal-accelerates-made-in-america-solar-momentum-9774422