corning and Qualcomm Stocks rose on Tuesday, and many AI stocks also rose as two infrastructure deals boosted Wall Street’s confidence that data center spending remains strong.
chip manufacturer intel and advanced micro device increased by 9% and 6%, respectively. hewlett packard enterprise Photonics companies up 8% reasonable Added 7%.
All of these companies have been big wins for investors this year, with HPE and AMD more than doubling in value and Intel nearly tripling as artificial infrastructure construction expands to other companies. Nvidia.
Corning, the glass maker whose fiber-optic technology is becoming a key part of AI data centers, soared 8% on Tuesday, taking its annual profit to 90%. The company announced a multibillion-dollar partnership with Verizon to build fiber optic cables for AI connectivity. –
A month later, in June, Corning signed a multibillion-dollar deal with Amazon. Nvidia The company has pledged to invest up to $3.2 billion in the company and build three new fiber optic manufacturing facilities in North Carolina and Texas.
Meanwhile, Qualcomm said in a filing Tuesday that it has issued warrants to Amazon, allowing the cloud giant to acquire up to $4 billion worth of stake in the chipmaker. The move is part of a deal between the two companies to build AI infrastructure, with Amazon Web Services buying up to $60 billion worth of Qualcomm’s server chips and other technology.
Qualcomm Chief Financial Officer Akash Palkiwala said Tuesday at the Goldman Sachs Communacopia+ Technology Conference in San Francisco that revenue from manufacturing chips for Amazon will begin to materialize in the December quarter and will be one of the “core elements” that will help the company reach its fiscal 2029 data center revenue target of $15 billion.
Qualcomm said at an investor day in June that it is working with two unnamed data center companies. One of them was Amazon. Palkiwala said Tuesday that the company is “doing the same for other data center customers.”
AMD CFO Jean Hu also spoke at the Goldman event. He said the total addressable market would reach $3 trillion by 2030, after CEO Lisa Su said in July that the semiconductor industry would reach $2 trillion by 2028.
The AI stock frenzy comes as the issues surrounding AI and data centers are among the most divisive. According to a May 2026 Gallup poll, 71% of Americans oppose building data centers in their communities. This translates directly into financial risk, with Anthropic poised to list negative public opinion toward AI and data centers as risk factors in its upcoming IPO prospectus.
Spotlight: Verizon and Corning announce partnership
