Corning shares sink 13.6% after announcing up to $2 billion at-the-market stock sale

Corning's announcement of a $2B at-the-market equity program triggered a sharp selloff as investors priced in dilution risk and uncertainty around timing/size of new share supply. The move also intersected with broader jitters that hyperscaler AI-related capex could slow, pressuring optical hardware peers. Near term, sentiment is likely constrained by capital intensity questions in Corning's optical buildout and reduced visibility into funding needs.