Verizon Signs Over $1B Fiber Deal With Google on Friday, CEO Hints More Deals Worth Billions By Year End

Verizon Communications Inc. (VZ) signed a fiber infrastructure agreement with Alphabet Inc.'s Google worth more than $1 billion on Friday, according to CEO Dan Schulman during the company's second-quarter earnings call. Verizon will provide dark fiber to connect Google's data centers as the telecom giant capitalizes on surging demand for AI infrastructure connectivity.

Schulman stated that the Google agreement is only the beginning of Verizon's AI infrastructure push, with the company expecting to announce additional deals by year-end that collectively are expected to generate multiple billions of dollars in revenue over the next several years. He described the upcoming deals as long-duration, high-quality revenue streams from major infrastructure customers, noting that Verizon's low-latency, carrier-grade transport network has become "exactly the right asset" for connecting AI data centers and compute clusters.