Nexans buys Republic Wire as cable demand and AI grid needs grow - 28 April 2026

As of April 28, today’s news is dominated by developments in the cable industry, particularly surrounding Nexans' recent acquisition and earnings report. Nexans’s shares surged by 8.19% following the announcement of its acquisition of Republic Wire, a U.S. company specializing in low-voltage aluminum and copper cables, and its first quarter results. Nexans reported first-quarter revenues of 1.5 billion euros, aligning with expectations, and confirmed its guidance for 2026. The Republic Wire acquisition, valued at approximately 680 million euros, is expected to enhance Nexans' long-term growth prospects in one of the fastest-growing markets for cables. Turning to market updates, Corning has faced challenges after its latest financial results fell short of optimistic projections, leading to a 10% drop in its shares during premarket trading. In broader market developments, investors are closely watching major tech firms as they prepare to report quarterly earnings amid escalating concerns over artificial intelligence investments. Companies like Microsoft, Alphabet, Meta, and Amazon are poised to gauge the financial impact of their significant investments in AI infrastructure, with estimates suggesting a collective spending of around 600 billion dollars this year. From the international front, European grid operators are advocating for enhanced regulatory measures to manage voltage fluctuations, particularly in the wake of the Iberian blackout last year. This regulatory push aims to ensure that all new power plants can dynamically respond to voltage shifts, an essential component for grid stability.