Corning CEO on Partnership with Apple, Data Center Growth, and American Manufacturing

Corning's Booming Business and Apple Partnership

• 💡 Corning's business is booming, with its stock up 84% over the past 12 months, driven by innovations in specialty glass.
• 🤝 The company has a long-standing partnership with Apple, which recently decided to deepen its commitment.
• 📱 More Corning innovations are being adopted in mobile consumer electronics at increasingly higher values.

Data Center Growth and Fiber Optics

• 🚀 Corning's fastest-growing business is in the data center sector, particularly with fiber optic cables.
• 🌐 The "scale out" of networks, connecting more AI clusters, is driving current growth, while "scale up" (within nodes) presents future opportunities.
• 🤯 A single Meta data center campus requires 8 million miles of fiber, enough to circle the Earth 320 times or connect every home in New York.
• ⚡ The concept of bringing glass to the server backplane promises more power efficiency and lower costs for data centers.

Innovation and Future Enterprises

• 🧩 Corning is working on innovations for the "scale up" of data center networks, which could be two to three times the size of their current enterprise business.
• ☀️ Corning is launching a new solar business, aiming to build the largest American-made ingot wafer plant in Michigan, tripling its run rate.
• 🇺🇸 The company's philosophy of locating close to customers and producing US origin products makes tariffs have a minimal impact.
• 💰 Investment from Apple is dedicated to mobile consumer electronics facilities, but it frees up shareholder capital for investments in innovations like the "scale up" network.