Corning Incorporated (NYSE:GLW) was one of the stocks featured in Jim Cramer’s Mad Money recap, as he discussed how the AI build-out could power the economy.
Cramer highlighted the company’s latest partnership with NVIDIA, as he commented: Oh boy, this is a big week for Corning, the iconic American glass maker, ringing the closing bell here today to celebrate its 175th anniversary
But even though it’s old, the company’s more relevant than ever. They make everything from iPhone screens to the kind of optical fiber that’s used to tie everything in the data center together. Just yesterday, NVIDIA announced a major new partnership with Corning to expand their optical connectivity manufacturing capacity by a factor of 10.
Basically, NVIDIA’s taking a big position in Corning to fund that expansion, which is why the stock shot up 12% yesterday. And this is something that’s already quadrupled over the past 12 months. Big win for my Charitable Trust, by the way, for both… It’s a long-term bet on the comeback in the American industry.