Can AT&T's U.S. Fiber Expansion Deal With GIP & CPP Boost the Stock?

AT&T Inc. T has agreed to form a new U.S. fiber joint venture with Global Infrastructure Partners ("GIP") and the Canada Pension Plan Investment Board ("CPP Investments"). The partnership aims to accelerate fiber expansion and bring high-speed Internet access to more communities across the country. The new joint venture will include AT&T's subsidiary, Forged Fiber 37, which holds the fiber build engine, network assets and operations acquired from Lumen Technologies, Inc. LUMN, along with Gigapower, its existing wholesale fiber joint venture with GIP.