SAN FRANCISCO, March 4, 2026, 08:50 (PST)
- Corning expects its Springboard plan to drive annual revenue to roughly $24 billion by 2028.
- The CFO is prioritizing optical communications above other capital spending needs linked to data centers.
- Solar is still the company’s other growth lever, and management is aiming to reach profitability before 2028.
Corning Incorporated’s CFO told a Morgan Stanley conference the company is now aiming for a $24 billion annual revenue run rate by 2028, ramping up its investment in data-center connectivity. Hitting that goal would nearly double Corning’s size in roughly five years.
Investors are watching closely to figure out which industrial suppliers can count on sustained demand as cloud companies ramp up artificial intelligence (AI) buildouts—and for how long that spending continues. Corning’s business is right in the mix, providing optical fiber, cable, and connectivity gear used within and between data centers. https://investor.corning.com/news-and-events/events-and-presentations/event-details/2026/Morgan-Stanley-Technology-Media--Telecom-Conference-2026-eZR20l6lNS/default.aspx
Corning executive vice president and CFO Edward Schlesinger described the move as a continuation of its “Springboard” growth strategy, pointing to better margins and stronger cash generation as what’s allowing the company to invest in additional capacity. Optical communications stood out, with Schlesinger calling it the primary “vector” for capital allocation.
Corning rolled out updated fibers, cables, and connectors aimed at boosting data-center density in mid-2024, Schlesinger said, adding, “the market itself has exceeded our expectations.” As of Tuesday, Corning shares slipped roughly 0.8%, per the transcript. https://www.investing.com/news/transcripts/corning-at-morgan-stanley-conference-strategic-growth-and-challenges-93CH-4539312
He flagged those long-term customer agreements as key, with Corning working to increase capacity but steering clear of excess. Back in late January, Corning and Meta Platforms rolled out a multiyear pact worth as much as $6 billion, aimed at scaling U.S. data-center infrastructure. Corning also outlined plans to grow its manufacturing footprint in North Carolina. “This long-term partnership with Meta reflects Corning’s commitment to develop, innovate, and manufacture the critical technologies that power next-generation data centers,” CEO Wendell Weeks said at the time. https://investor.corning.com/news-and-events/news/news-details/2026/Corning-and-Meta-Announce-Multiyear-up-to-6-Billion-Agreement-to-Accelerate-US-Data-Center-Buildout/default.aspx
Schlesinger pointed to robust “scale-out” growth—firms are stacking more servers onto existing setups—and highlighted growing “scale-across” requirements for massive clusters. As for “scale-up” systems, where more computing muscle gets crammed into compact boxes, he doesn’t see a real pivot there until about 2028.
He pointed to progress on CPO—co-packaged optics—where optical links move nearer to the chips, cutting power needs and boosting bandwidth. Schlesinger said Corning has prototypes in the works alongside ecosystem partners, calling the transition from copper to optics a market-opening shift, not just a battle for share.
Corning’s enterprise network segment pulled in over $3 billion last year, according to the transcript. Schlesinger pointed out that swapping out copper for optical links could push growth past the usual three-year window. In the optical infrastructure arena, Corning is up against connectivity and cable players like CommScope and Prysmian, as well as others.
Another key play for Corning: solar. Schlesinger told investors the company’s solar arm is targeting more than $2.5 billion in sales, with profitability expected ahead of 2028, as wafer and module production ramps up. Corning also snapped up a module business, aiming to leverage “Buy America” incentives—those U.S. policies that reward firms for using more domestic content in certain federally connected deals and initiatives, he said.
Still, everything depends on cloud clients keeping up their capital outlays — and on whether co-packaged optics technology lands on Corning’s schedule. Over in solar, a lot rides on execution: ramp-up expenses and policy-driven demand could squeeze margins if the rollout falters.
Corning’s been working to boost cash reserves for investment, cutting back its dividend payout ratio—the portion of profits returned to shareholders. “We enter 2026 with exciting momentum,” Schlesinger said during the late-January earnings report. Corning
