Verizon signs $1 billion dark fiber deal with Google for AI data centers
Verizon Communications announced a dark fiber agreement with Alphabet's Google worth over $1 billion, positioning the telecom carrier as a key connectivity provider for AI data center infrastructure. CEO Dan Schulman disclosed the deal during Verizon's second-quarter earnings call, stating that Verizon will provide dark fiber to connect Google's data centers. Schulman described the AI infrastructure buildout as one of the largest capital cycles of the lifetime and said Verizon is uniquely positioned to participate. Verizon stock rose over 3% following the announcement, while Alphabet shares gained about 1%. Schulman indicated this is the start of a broader push, with additional agreements expected by year-end that could generate multiple billions in revenue over several years. The company is leveraging its long-haul and metro fiber assets originally built for a different era but now suited for linking AI data centers and compute clusters.
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