5 days ago
AT&T Signs $3 Billion Corning Fiber Deal Amid Data Surge
AT&T is buying more fiber and cable from Corning in a deal worth over $3 billion.
Fiber helps move internet data quickly and reliably.
People and businesses are using much more data than they did before.
This includes data from cloud computing, connected devices, streaming, and artificial intelligence tools.
AT&T says an average fiber customer uses more than 1 terabyte of data every month.
That is five times as much as the average customer used in 2016.
AT&T wants to connect 60 million locations with fiber by the end of the decade.
The company is also expanding by buying Lumen's fiber business.
AT&T signed a multiyear agreement worth more than $3 billion with Corning for fiber and cable.
The deal supports AT&T's network expansion as demand for data-intensive services increases.
AT&T said its average fiber household uses more than 1 terabyte of data monthly, five times the 2016 level.
The company aims to reach 60 million fiber locations by the end of the decade.
AT&T has expanded its fiber footprint through its $5.75 billion acquisition of Lumen's fiber business.
- Who
- AT&T and Corning are parties to the agreement.
- What
- AT&T signed a multiyear deal worth more than $3 billion to procure fiber and cable from Corning.
- Where
- The article does not specify where the agreement was signed; AT&T's broader infrastructure effort concerns U.S. connectivity.
- When
- The agreement was announced Tuesday.
- Why
- AT&T is expanding its network to meet surging demand for data and data-intensive services.
Key facts
- Deal value
- More than $3 billion
- Deal duration
- Multiyear
- Materials
- Fiber and cable
- Average monthly fiber usage
- More than 1 terabyte per AT&T Fiber household
- Usage growth
- Five times higher than in 2016
- Fiber expansion target
- 60 million locations by the end of the decade
- Lumen acquisition value
- $5.75 billion
Quotes
AT&T
Telecommunications company and subject of the agreement
“The average AT&T Fiber household now uses more than 1 terabyte each month, 5x more than in 2016. And that number is expected to keep climbing”
CNBC TV 18
Sources
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