A360
Key Takeaways✦ Atlas AI
01
Nvidia funds Corning factory expansion.
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Multi-billion dollar prepayment made.
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U.S. fiber optic capacity to increase.
Atlas AI
Nvidia has made a multi-billion-dollar prepayment to help fund new U.S. factories for glassmaker Corning, in addition to an equity investment of up to $3.2 billion disclosed earlier this week, the companies’ CEOs said.
Nvidia CEO Jensen Huang said the prepayment was separate from the equity investment and was not previously disclosed. He made the comments in a joint sources interview with Corning CEO Wendell Weeks.
Weeks confirmed the prepayment but did not provide the amount. He said the funding would support the construction of new factories in the U.S.
The companies said the investment is intended to expand U.S. production capacity for fiber-optic components used in cables that connect computers inside large data centers, an area seeing growing demand tied to AI infrastructure.
Huang said the expansion is expected to create thousands of jobs and increase U.S. production capacity by a factor of 10.
