AT&T has agreed with Global Infrastructure Partners and CPP Investments to create a new U.S. fiber joint venture aimed at accelerating broadband construction and expanding wholesale fiber access.
The company said the venture will combine Forged Fiber 37, a recently created subsidiary holding fiber assets AT&T acquired from Lumen, with Gigapower, its existing wholesale fiber partnership with GIP.
Outside capital will support faster network expansion
Global Infrastructure Partners, which is part of BlackRock, and the Canada Pension Plan Investment Board will provide infrastructure capital alongside AT&T. The group plans to use the structure to extend fiber into more U.S. communities while allowing multiple service providers to access the network on a wholesale basis.
AT&T said the venture should strengthen its ability to sell combined fiber and wireless services without requiring the company to fund every network expansion directly on its own balance sheet.
AI demand is adding pressure to communications networks
Fiber investment has become increasingly important as homes, businesses and data centers generate more traffic. AT&T framed the transaction as part of the infrastructure needed for an AI-enabled economy, where high-capacity and low-latency connections are expected to become more valuable.
The transaction is expected to close in the first half of 2027, subject to regulatory approvals and customary closing conditions.
The partnership also reflects a broader trend in telecom infrastructure: large operators are increasingly working with pension funds and infrastructure investors to finance capital-intensive network projects while retaining commercial access to the resulting networks.
Sources
- AT&T corporate announcement, Oct. 6, 2026
- Reuters, Oct. 6, 2026
