Corning targets $20 billion annual revenue by end of 2025, $30 billion by end of 2028, and possibly $40 billion by end of 2030, following NVIDIA partnership to expand optical connectivity manufacturing capacity by a factor of 10

NVIDIA announced a major partnership with Corning to expand optical connectivity manufacturing capacity by a factor of 10, with NVIDIA taking a position in Corning to fund the expansion. Corning's stock rose 12% following the announcement.

Corning makes optical fiber and cables for telecommunications and glass substrates for displays in TVs, computers, and mobile devices. The company is leveraging major exposure to data centers via its optical fiber business.

Management issued long-term financial targets: annual revenue run rate of $20 billion by the end of 2025, $30 billion by the end of 2028, and possibly $40 billion by the end of 2030.