Corning CEO Highlights Volatility of AI Trade

Dow Jones10-27 20:55

0855 ET - Corning's stock has seen some volatility this year thanks to its close ties to artificial intelligence, CEO Wendell Weeks says. When Corning rolled out a new product in Asia earlier this year, for instance, shares went on a tear, and the company had to calm investors down and remind them that the new offering wouldn't make a difference in its financials for years to come, Weeks says. "Almost everything that looks a little bit revolutionary would get traded on. You have some volatility in the AI trade, to make an understatement," he says during an appearance on CNBC. "But overall, I love being part of the AI infrastructure. It's been great for us." The stock is up about 46% year to date.

 

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