Corning's stock has risen 405% in the three years since the company announced its Springboard plan, while revenue grew 60% and earnings per share 150%.
In the telecom bubble, Corning borrowed to build capacity on its own, and its stock fell from $113 to $1.10. Wendell Weeks, Chairman and CEO of Corning, told CNBC's Squawk Box, carried on Squawk Pod, that the AI build-out is different because customers now give Corning cash upfront to pay for the capacity it adds.
"What we ask for is upfront cash to fund the capacity we're putting in place... that was not done back then. We simply return the cash to our customers with the profit stream we create when we actually deliver the volume."
Wendell became CEO after that collapse and has run Corning for about 20 years, out of 40 at the company. He brought the company back from that low point.
The full interview is covered here so you can skip it. 16 minutes of audio, 6 minutes of reading.
Here are the 7 numbers that matter.
Squawk Pod · Oct 27, 2026 · 16m · 10m saved
With Wendell Weeks, Chairman and CEO of Corning
Key Takeaways
Corning beat on both lines in Q3, with EPS of $0.91 against $0.88 expected and revenue of $5.1 billion against $5 billion
Customers now fund Corning's new capacity with upfront cash, the structural difference from the telecom bubble
Corning signed four multibillion-dollar customer agreements in the quarter
Anthropic's S-1 shows AI demand is real, Wendell said, with compute as the constraint Corning's networking helps relieve
Most of Corning's AI revenue comes from hyperscalers with strong balance sheets, not from the neo-clouds Elon Musk warned about
Growth runs across Corning's segments: enterprise networks up 84%, optical communications up 44%, solar up 37%
The iPhone Duo carries more Corning glass than any device yet
1. Springboard, 3 Years In
Corning reported third-quarter EPS of $0.91 against the Street's $0.88, and revenue of $5.1 billion against $5 billion. The stock rose 3.3% on the day. The interview opened on the third anniversary of Springboard, Corning's growth plan.
Corning's revenue is up 60% and its stock 405% since Springboard was announced three years ago
"We announced Springboard. So here we are three years later, and over those three years we've grown revenue 60%, EPS 150%, and our stock's gone up 405%." — Wendell Weeks
Wendell said Corning raised its targets again in May. The plan now runs to a $40 billion revenue run rate by the end of 2030.
"We'd hit a $20 billion run rate by the end of this year, a $30 billion run rate by the end of 28, and a $40 billion run rate by the end of 30 — basically to double the size of the company." — Wendell Weeks
