AT&T signs over $ 3 billion fiber deal with Corning as data demand surges

AT&T on Tuesday said it had signed a multi-year deal worth more than $3 billion with Corning to procure fiber and cable, as the telecom giant expands its network to meet surging demand for data.

Corning shares rose 3.3% in premarket trading.

Fiber network build-out has emerged as a critical growth area for the telecom industry as the wireless market matures and internet usage surges.