AION plans €10bn French data center as fiber demand reshapes markets - 20 May 2026

As of May 20, today’s news features developments in corporate strategies and international energy dynamics. Prysmian reported a positive influence on its stock amidst a broader upward trend in electrical materials providers, rising by 2%. In the spotlight today is Fujikura, which introduced a medium-term business plan that increases its reliance on demand from AI infrastructure and data centers, as noted by analysts at Jefferies. Although the company faces challenges with capacity increases and potential supply chain bottlenecks, it remains optimistic about future earnings, particularly linked to AI capital expenditures. However, its stock has seen a decline of 8.5%, indicating market volatility. Meanwhile, a consortium of European companies will bid on a 10 billion euros project to build a major data center campus in France as part of the continent’s effort to boost artificial intelligence infrastructure. The group, called AION, includes telecommunications firms Iliad SA and Orange SA, private equity firm Ardian, energy supplier Electricite de France SA and data center operator Scaleway among others, AION said in a statement today. Turning to Corning, it announced plans to significantly boost its manufacturing capabilities for fiber optics and AI infrastructure, aiming to capitalize on the current data center boom. The company entered a partnership with Nvidia, which includes a substantial investment to expand its optical connectivity production capabilities significantly. This move is anticipated to create approximately 3,000 jobs as Corning expands its facilities in the U.S. In other market updates, Germany's Offshore Wind Energy lobby called for legal reforms to reduce delays in offshore wind projects, which could risk approximately 50 billion euros worth of planned projects through 2025, heightening investor concerns amid declining interest from oil majors in German offshore ventures. Furthermore, the European Commission approved 1.3 billion euros in state aid to support the production of renewable hydrogen in Germany, reinforcing the push towards green energy solutions. On the global front, high fuel prices, driven by ongoing conflicts impacting Middle Eastern oil distributions, are significantly increasing demand for electric vehicles in Europe. This surge is seen as a pivotal moment for the EV market, with sales of fully electric cars projected to rise by 30% across Europe in 2025. Notably, automakers such as Volkswagen and Stellantis are adjusting their strategies in response to these shifts in demand.