Nvidia strikes Corning fiber deal as Barclays boosts Prysmian target - 6 May 2026

As of May 6, today’s news highlights the agreement between Nvidia and Corning and strategic moves in power market dynamics. Barclays has raised its target price for Prysmian, increasing it from 119 euros to 147 euros. Meanwhile, Nvidia bought 500 million dollars worth of rights for shares in the fiber-optic cable maker Corning as part of a broader partnership between the two companies aimed at expanding artificial intelligence infrastructure. Nvidia is getting as many as 3 million shares at 0.0001 dollars each and can buy as many as 15 million shares at an exercise price of 180 dollars in the deal, according to a regulatory filing Wednesday. Corning in turn pledged to increase US fiber production capacity by more than 50% to supply more optical fiber for AI data centers. At the same time, PJM Interconnection is contemplating a significant overhaul of its electricity market due to concerns over energy supply shortages exacerbated by the increasing demands of data centers. Proposed reforms may involve restructuring capacity markets to favor long-term contracts over the traditional short-term arrangements, potentially reshaping electricity pricing and power generation investments. Shifting to other market developments, EDP Renewables reported a 9% increase in its recurring net profit for the first quarter, achieving 71 million euros and surpassing analyst expectations. This growth was attributed to enhanced production and cost management, despite revenues remaining stable at 591 million euros. Danish offshore wind developer Ørsted also revealed robust performance, as its first-quarter core profit exceeded forecasts, driven by increased power output. The company reaffirmed its full-year outlook, indicating a positive trajectory despite previous challenges related to supply chain disruptions and market conditions. Furthermore, reports revealed that Microsoft may reconsider its ambitious 2030 clean energy targets in light of the burgeoning energy demands from its AI and data center expansions. The tech giant's shift could influence the sector, as energy-intensive projects gain traction, drawing further interest in natural gas over renewables. Looking at oil prices, a significant drop was reported following news that the U.S. is nearing a potential framework agreement with Iran to end ongoing conflicts in the region. Brent crude futures fell by 6.1%, marking the steepest decline since mid-April. This decline was similarly reflected in U.S. West Texas Intermediate prices, which dropped 6.6%. Analysts speculate that if an agreement is finalized, it could have profound implications for energy markets. In a related geopolitical context, a Pakistani source indicated that the U.S. and Iran are nearing consensus on a memorandum aimed at ending the Gulf war. While the negotiations bring optimism for stability, the impact on global oil prices already emerged with considerable reductions noted today.