AT&T said on Monday it had struck a $1 billion multi-year deal with Corning to buy fiber, cable, and connectivity solutions, as the U.S. telecom giant looks to expand its high-speed internet services.

Driven by organic investments, its Gigapower joint venture with BlackRock, and multiple open-access agreements, AT&T wants to exceed 30 million sites by the end of 2025. The Evolv solutions from Corning are meant to simplify deployment and improve network flexibility,

Corning Incorporated (NYSE:GLW) shares are trading higher premarket on Monday after the company inked a multi-year agreement with AT&T Inc. (NYSE:T). The agreement, which is valued over $1 billion, expands AT&T and Corning’s decades-long partnership.

With this agreement, Corning solidifies its position as a critical supplier for AT&T, which is the largest fiber internet provider in the U.S. The expanded collaboration will allow Corning to play a central role in AT&T’s goal of passing 30 million consumer and business locations by the end of 2025.

AT&T partners with Corning in $1B+ agreement to expand fiber network, accelerate high-speed internet access for Americans.

AT&T secured a multi-year $1 billion purchasing agreement to buy more fibre from Corning in support of its ongoing fibre buildout.

AT&T said on Monday (Oct 28) it had struck a US$1 billion multi-year deal with Corning to buy fibre, cable, and connectivity solutions, as the US telecom giant looks to expand its high-speed internet services.

With the U.S. wireless market facing a slowdown, telecom companies such as AT&T and rival Verizon have doubled down on their high-speed internet businesses, an area that has long been dominated by broadband companies such as Comcast.