Nvidia-Corning Deal: $500M in Warrants, Three New US Plants, and 3,000 Jobs
May 6, 2026 – 1:38 pm
The partnership between NVIDIA and Corning includes:
- A $500 million equity stake by NVIDIA in Corning through warrants for 15 million shares at $180 per share, plus an additional 3 million shares at a nominal value.
- Corning’s commitment to build three new US optical-connectivity plants and grow capacity tenfold.
- The creation of over 3,000 high-paying jobs in North Carolina and Texas.
Corning shares closed up approximately 14% on the announcement.
These are warrants, not subscription rights. The Traditional Warrant provides NVIDIA with a profit of about 15% if Corning’s share price holds. Both warrants have a three-year expiry date, exercisable from issuance, subject to early termination under certain conditions.
The key aspect is the manufacturing commitment behind the warrants. This extends a pattern established by NVIDIA in March, when they invested heavily in Coherent and Lumentum, the primary laser component suppliers for their Spectrum-X co-packaged optics platform.
Jensen Huang, NVIDIA’s founder and CEO, emphasized:**
"AI is driving the largest infrastructure buildout of our time, and a once-in-a-generation opportunity to reinvigorate American manufacturing and supply chains… Together with Corning, we are inventing the future of computing with advanced optical technologies, building the foundation for AI infrastructure where intelligence moves at the speed of light while advancing the proud tradition of Made in America."
NVIDIA’s strategy involves scaling AI factories beyond copper interconnect limits using co-packaged optics. The deal with Corning ensures scaled fiber production to meet this demand, avoiding potential bottlenecks in the supply chain.