NVIDIA has taken a $500M equity-linked stake in fiber-optics manufacturer Corning through a warrant structure: a Traditional Warrant for up to 15 million shares at $180 and a Pre-Funded Warrant for 3 million more at a nominal price. In return, Corning commits to expanding US optical-connectivity manufacturing capacity tenfold, building three new plants in North Carolina and Texas, and creating over 3,000 jobs. This follows Nvidia's earlier $4B investments in laser-component suppliers Coherent and Lumentum, completing the optical supply chain for its Spectrum-X Photonics co-packaged optics platform. Corning shares rose roughly 14% on the announcement.
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