Corning raises second-quarter core sales forecast driven by AI boom

:Corning raised its 2d-quarter core sales forecast on Monday, as quiz for its fiber optic products surges with the rising adoption of generative AI technology, sending the specialty glass maker’s shares up bigger than 9 per cent.

Corning’s fiber optic solutions attend firms transmit big portions of records wanted for coaching AI systems. Hyperscale records products and providers require high-capability optic cables to interconnect the products and providers that could well dwelling storage devices and diverse infrastructure for their operations.

Unusual York-primarily based mostly mostly Corning now expects core sales to be about $3.6 billion for the 2d quarter, when compared with its earlier forecast of about $3.4 billion. Analysts search records from core sales of $3.41 billion, in accordance with LSEG records.

The company, which makes Gorilla Glass primitive in smartphones by firms comparable to Samsung Electronics and Apple, will file its 2d-quarter outcomes on July 30.

Corning had delivered durable glass with infused color for the attend of Apple’s iPhone 15 and iPhone 15 Plus devices.