AT&T stock forms a fiber joint venture with GIP and CPP Investments
Published on 10/06/2026 at 17:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
AT&T Inc. (ISIN US00206R1023) was trading at USD 24.23 on the NYSE on October 6, 2026 at 11:46 a.m. ET, down 0.02 percent. The company announced a fiber joint venture with Global Infrastructure Partners and CPP Investments on October 6, giving AT&T a 50 percent ownership stake.
Fiber venture targets wider reach
According to AT&T on October 6, 2026, the transaction will combine Forged Fiber 37, which holds fiber assets acquired from Lumen Technologies, with Gigapower, AT&T's existing wholesale fiber venture with GIP.
The new company will operate as a wholesale commercial open access network. It is designed to help AT&T reach more than 60 million fiber locations by the end of 2030, while the transaction is expected to close in the first half of 2027.
Capital-light model meets Q2 growth
Reuters reported on October 6, 2026 that GIP and CPP Investments will own the remaining 50 percent and that AT&T expects proceeds at closing. The company plans to use the proceeds for network investment, debt reduction and shareholder returns.
That capital-light structure is important because it expands the fiber footprint without requiring AT&T to fund the full build alone. The venture will cover major metro areas across 16 states and combine nearly 5 million fiber locations at closing, according to the company release.
AT&T's latest reported quarter also showed growth in the business targeted by the venture. According to StockTitan, Q2 2026 operating revenue rose 2.3 percent year over year to USD 31.558 billion, while adjusted EPS increased to USD 0.65 from USD 0.54.
Analysts see room above the quote
The analyst picture remains more constructive than the modest intraday move. MarketBeat lists a Moderate Buy consensus from 18 analysts, with an average target of USD 29.16, a high of USD 36.00 and a low of USD 20.00. The average target lies 20.4 percent above the USD 24.23 price.
The next test is execution. AT&T must convert the new ownership structure into faster fiber deployment while preserving the financial flexibility that the partnership is intended to provide.
AT&T stock holds above USD 24
AT&T stock was last at USD 24.23 on the NYSE on October 6, 2026 at 11:46 a.m. ET. Its market capitalization was USD 166.1 billion, with a 52-week range of USD 19.89 to USD 29.44.
AT&T stock facts
- Company: AT&T Inc.
- ISIN: US00206R1023
- Ticker: T
- Trading venue: NYSE
- Price (as of October 6, 2026, 11:46 a.m. ET): USD 24.23
- Market capitalization: USD 166.1 billion (as of October 6, 2026)
- 52-week range: USD 19.89-29.44 (as of October 6, 2026)
- Sector / Industry: Communication Services / Diversified Telecommunication Services
