Latest news with #Gigapower
Business Wire
01-07-2025
- Business
- Business Wire
Gigapower Appoints Donna Rattley Washington as Head of Strategy
DALLAS--(BUSINESS WIRE)--Gigapower, a joint venture between AT&T and a fund managed by Global Infrastructure Partners (GIP), a part of BlackRock with the goal of expanding high-speed, reliable fiber internet through open-access networks, has appointed Donna Rattley Washington to the position of Head of Strategy. In this role, Washington will lead Gigapower's engagement with strategic partners to identify new and innovative growth opportunities. She will also work with the company's executive leadership team to maximize emerging initiatives with internet service providers (ISPs), technology companies, public sector entities and digital platform providers with the ultimate goal of driving performance and revenue. Her charge includes turning Gigapower's infrastructure advantage into a diversified revenue engine. 'Donna brings a unique blend of strategic foresight, legal acumen, and business development expertise to Gigapower,' said Jeff Seidenfaden, Chief Revenue Officer. 'Her track record of unlocking growth through partnerships and policy makes her the ideal leader to help us build our open access network and shape the next phase of our business strategy. Donna's leadership will be instrumental in accelerating Gigapower's impact and value.' Prior to joining Gigapower, Washington served as General Counsel for Boundless Broadband, where she led all legal, regulatory, and government affairs functions. Before that, she was the Vice President of Government Affairs and Policy at EducationSuperHighway, directing national legal and regulatory advocacy to shape implementation of the Infrastructure Investment and Jobs Act (IIJA), including BEAD and Digital Equity programs. In addition, Washington held senior roles at Comcast, spearheading regional Smart City initiatives. 'Gigapower has a rare opportunity to build a new kind of broadband business — one that delivers real value through openness, choice, and innovation,' said Washington. 'I look forward to shaping strategic alliances and launching new revenue-generating services that fully leverage our infrastructure investments and bring more opportunity to the communities we serve.' About Gigapower: Gigapower builds, owns, and operates a state-of-the-art fiber network to serve internet service providers and other businesses in select locations within the US. Gigapower builds networks that enable multiple internet service providers (ISPs) to use it, resulting in a 'build it once' construction event that can be utilized by multiple ISPs, enabling choice and competition for residents and small businesses within your community. With Gigapower, AT&T — one of the largest investors in fiber in America — and BlackRock — one of the largest investors in infrastructure — have come together through a joint venture to deliver access to super-fast, reliable, high-capacity fiber to more communities.
Yahoo
16-06-2025
- Business
- Yahoo
AT&T (T) Fiber Network Reaches 30M Locations, Targets 60M
AT&T Inc. (NYSE:T) is . On June 10, the company confirmed the expansion of its fiber network to more than 30 million consumer and business locations across the US. The expansion cements the company's position as the leading fiber internet provider. The company is targeting more than 60 million locations by 2030. AT&T also focuses on growing its organic in-region fiber network, Gigapower joint venture, and public-private partnerships. It is also acquiring Lumen's Mass Market fiber business to access over 1 million fiber customers and more than 4 million fiber locations. The expansion drive is part of AT&T's push to meet increasing customer demand for broadband technology. With the fiber and 5G combination, AT&T provides American customers with greater options for choosing broadband and wireless services. Customers are likely to stick with AT&T longer and refer others to the company if they use AT&T Fiber and its wireless services. AT&T Inc. (NYSE:T) is a telecommunications company providing a wide range of services, primarily connecting people and businesses. They offer mobile phone plans, fixed-line phone services, broadband internet, and even pay television. While we acknowledge the potential of T as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Phone Arena
10-06-2025
- Business
- Phone Arena
AT&T is now covering more ground than anyone else and it's only halfway done
Just like mushrooms stay connected through underground networks, we are too – though ours is way less natural and a lot more high-tech: fiber. And when it comes to laying down that fiber, AT&T is doing more than anyone else – including T-Mobile and Verizon – and plans to keep pushing hard to meet growing this is coming straight from AT&T itself, as the company just hit a major milestone. It says it has now passed over 30 million homes and businesses with its fiber broadband network – ahead of schedule – officially cementing its spot as the nation's top fiber internet provider. – John Stankey, chief executive officer of AT&T , June 10, 2025 AT&T says it is expanding its fiber reach in multiple ways – growing its in-region network organically, teaming up through its Gigapower joint venture, signing commercial open-access deals, forming public-private partnerships and recently moving to acquire most of Lumen's fiber business. That deal alone brings in around 1 million existing fiber customers and more than 4 million fiber locations across 11 states. Between 2020 and 2024, AT&T poured over $145 billion into its network – both wireless and fiber – with investments covering infrastructure, spectrum buys and everything in between to help bring high-speed connections to more homes and businesses. What sets AT&T apart, according to the company, is its unique blend of network scale, tech know-how and a go-to-market strategy that lets it grow faster and more cost-effectively than the rest. Now that it has hit 30 million+ fiber locations passed, it's doubling down on its plan to reach 60 million by the end of 2030. AT&T also points out that it is the first and only provider to roll out a customer guarantee that covers both wireless and fiber – for consumers and small businesses – which it says shows its full commitment to keeping people connected at home, at work, and wherever life takes indeed, millions of AT&T customers already have access to faster, more reliable fiber internet and the company is also modernizing the in-home setup too. Its new All-Fi Pro system is basically a future-proof router setup – built to upgrade just like your phone – giving users a smarter, more powerful Wi-Fi experience throughout the house. But while AT&T is celebrating a big win, its rivals aren't sitting back either. Verizon just scored FCC approval for its $20 billion acquisition of Frontier Communications, setting the stage for a huge fiber expansion across 25 states. And T-Mobile is making moves too – it recently acquired Lumos, an internet provider, and is now rolling out T-Mobile Fiber in more places across the US. The un-carrier is also offering a five-year price lock for new fiber customers, giving them one more reason to jump on board (although price locks don't always guarantee no price hikes down the road, as we recently saw). So yeah, the fiber race is definitely heating up. And no matter which carrier you're with, this competition could mean better speeds, wider coverage, and more deals heading your way. Switch to Total 5G+ Unlimited 3-Month plan or Total 5G Unlimited and get a free iPhone. We may earn a commission if you make a purchase Buy at Total Wireless
Yahoo
24-05-2025
- Business
- Yahoo
AT&T Bets $5.75 Billion on Fiber Expansion
AT&T is acquiring the consumer fiber assets of Lumen in an $5.75 billion deal. The company has a big opportunity to grow the penetration rate and bundle its wireless service. AT&T will offload some capital spending requirements by seeking an equity partner for the new assets. 10 stocks we like better than AT&T › Telecom giant AT&T (NYSE: T) doubled down on its fiber internet strategy on Wednesday with a $5.75 billion deal to acquire Lumen's Mass Markets fiber business. The acquisition will come with approximately 1 million fiber subscribers and 4 million passed locations, expanding AT&T's fiber presence in Denver, Las Vegas, Orlando, Seattle, and other major metro areas. Lumen's assets will form a new fully owned subsidiary. AT&T already had big plans for its fiber network before the Lumen acquisition. Previously, the company had planned to pass 50 million fiber locations by the end of 2029, mostly through its owned fiber network and with some additional reach from its Gigapower joint venture. With the Lumen deal, AT&T now expects to pass 60 million fiber locations by the end of 2030. That's about double the scale of the company's fiber network today. Building out a vast fiber network is expensive. The Gigapower joint venture shifted some capital spending away from AT&T, and the Lumen deal will do the same. After the transaction closes in the first half of 2026, AT&T plans to sell partial ownership of the subsidiary to an equity partner that will take on some of the capital investment requirements. The company plans to find an equity partner within a year after the close of the transaction. Once AT&T identifies an equity partner and completes the partial sale, the subsidiary will operate as a wholesale commercial open-access platform with AT&T as the core tenant. This is similar to how Gigapower operates, and it allows AT&T to expand its fiber reach without needing to take on all the capital spending necessary to grow the network. AT&T reiterated its 2025 outlook and its plan to repurchase $10 billion of its own shares through the end of 2026. The company also expects its ratio of net debt to adjusted EBITDA to remain around 2.5 once the Lumen deal closes and it finds an equity partner. The penetration rate of Lumen's Mass Markets fiber business, or the percentage of passed locations that subscribe to the service, is roughly 25%. That's far below the 40% penetration rate for AT&T's consumer fiber business, and it's half of AT&T's long-term target of 50%. Bringing Lumen's penetration rate up to AT&T's levels is low-hanging fruit that won't require additional capital spending. Another opportunity for AT&T is to sell the 1 million acquired fiber customers its wireless service. About 40% of AT&T fiber customers are also wireless customers. These customers have lower churn and higher lifetime value for AT&T than customers subscribing to only one of AT&T's services. In a highly competitive wireless market prone to expensive promotional activity, bundling fiber is a great way to retain customers without breaking the bank. By acquiring Lumen's fiber assets, AT&T gets an immediate jolt in fiber subscribers and a path to expanding its fiber network well beyond its previous plan. At the same time, the company is ensuring that it doesn't overextend itself by planning to partner with an equity investor and unload a portion of the necessary capital spending. This frees up cash for AT&T to proceed with its share buyback plans while keeping its balance sheet healthy. AT&T still expects to generate free cash flow of at least $16 billion this year. With a market capitalization of around $198 billion, the stock currently trades for a bit more than 12 times free cash flow. While shares of AT&T aren't as cheap as they were a few years ago, the stock still looks like a solid value. With the Lumen deal supercharging AT&T's fiber expansion, now is a great time to invest in this telecom leader. Before you buy stock in AT&T, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and AT&T wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $640,662!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $814,127!* Now, it's worth noting Stock Advisor's total average return is 963% — a market-crushing outperformance compared to 168% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Timothy Green has positions in AT&T. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. AT&T Bets $5.75 Billion on Fiber Expansion was originally published by The Motley Fool
