Apple Tests China's CXMT Memory Chips as DRAM Maker Gains Global Market Share 
US Back-to-School Spending Seen Falling as Families Focus on Essentials 
Gold Prices Slip as Stronger Dollar, Fed Rate Outlook Weigh on Bullion 
Asian Stocks Slip as Iran Tensions, Samsung Weakness and Fed Caution Weigh on Markets 
Elon Musk Says Anthropic Leads AI Race as Claude Models Challenge OpenAI 
Goldman AM Sees Strong Buyout Opportunities in Japan, South Korea and Australia 
Japan Regional Bank Stocks Drop After Zentoshin Bankruptcy Sparks Credit Risk Concerns 
Fast Retailing Raises Full-Year Forecast After Uniqlo Owner Beats Q3 Profit Estimates 
Gold Price Rebounds as U.S.-Iran Tensions and Fed Minutes Keep Markets on Edge 
Oil Prices Rise as U.S.-Iran Conflict Fuels Strait of Hormuz Supply Fears 
Apple Sues OpenAI, Former Employees Over Alleged Trade Secret Theft 
OpenAI GPT-5.6 Set for Wider Release After U.S. Commerce Approval, Report Says 
Oil and LNG Tankers Turn Back as Strait of Hormuz Security Risks Escalate 
Wolfspeed Sues Navitas Over GaN and SiC Patent Infringement 
SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO 
Gold Prices Set for Weekly Loss as Iran Tensions and Fed Rate Outlook Weigh 
Dollar Slips After Fed Minutes as Iran Tensions, Inflation Risks Keep Markets Cautious 
AT&T Inc. and BlackRock Inc. have formed a joint venture called Gigapower LLC to become a wholesale fiber services provider in the United States. They will be setting up a fiber optic platform for this collaborative business.
AT&T and BlackRock revealed their agreement late last week, and through the deal, they are planning to distribute its network to 1.5 million customers first. These customers are located outside of the telecom firm’s usual 21-state wireline service presence.
As per Reuters, the companies declared that they would be managing Gigapower together since they jointly the business. However, they did not disclose any details regarding the agreed terms.
Their partnership deal emerged as AT&T shared its plans to scale up its high-speed home internet service to other regions in the country. The company is exerting efforts for this to attract more new subscribers.
It was reported that the telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas, availed the services of Morgan Stanley to help bring in an infrastructure partner to the venture. At that time, the JV has been estimated to be valued at $10 billion to $15 billion.
Once the deal is completed, AT&T and BlackRock will operate Gigapower at once. It was noted that this transaction is still subject to customary closing conditions, including regulatory approvals.
“Now more than ever, people are recognizing that connecting changes everything,” AT&T’s chief executive officer, John Stankey, said in a press release. “With this joint venture, more customers and communities outside of our traditional service areas will receive the social and economic benefits of the world’s most durable and capable technology to access all the internet has to offer.”
Mark Florian, BlackRock’s global head of diversified infrastructure, further commented that they are excited to work with AT&T through their Gigapower JV. “We believe Gigapower’s fiber infrastructure designed as a commercial open access platform will more efficiently connect communities across the United States with critical broadband services,” he said.
Photo by: Rubaitul Azad/Unsplash
