AT&T Formed Fiber Infrastructure Joint Venture

The partnership with CPP Investments and Global Infrastructure Partners aims to expand broadband reach to meet AI demand.

Updated on Oct. 6, 2026 in Telecommunications

Bold vector editorial illustration of a fiber-optic cable bundle emerging from a concrete conduit, representing commercial network infrastructure expansion. — AT&T has launched a joint venture, Forged Fiber 37, with CPP Investments and Global Infrastructure Partners to accelerate fiber-optic broadband deployment across 16 U.S. states. AI Illustration. Upload story photo >

Live Poll

Do you believe large corporate joint ventures for infrastructure projects generally benefit the public?

AT&T has announced a joint venture named Forged Fiber 37 to build and operate commercial fiber internet infrastructure across 16 U.S. states. The venture will leverage AT&T's existing fiber expertise alongside capital from CPP Investments and Global Infrastructure Partners.

Why it matters

The venture intends to address the significant surge in network connectivity requirements driven by the ongoing artificial intelligence boom. By pooling specialized infrastructure capital, the companies aim to accelerate the deployment of high-speed fiber services.

AT&T holds a 50% equity stake in Forged Fiber 37, with partners CPP Investments and Global Infrastructure Partners dividing the remaining 50%. The infrastructure expansion targets a 16-state footprint across the United States.

The players

AT&T

A major U.S. telecommunications firm providing mobile and broadband services and deep fiber infrastructure expertise.

CPP Investments

A global investment management organization managing assets for over 22 million Canada Pension Plan contributors and beneficiaries.

Global Infrastructure Partners

An investment firm focused on energy, transport, and digital infrastructure assets with over $200 billion under management.

The details

The venture integrates AT&T's operational knowledge of fiber-to-the-premises networking—a system where fiber-optic cables run directly from a central office to residential or commercial buildings—with external capital from two massive asset managers. CPP Investments, which manages C$863.6 billion ($606.46 billion), joins Global Infrastructure Partners, a fund overseeing more than $200 billion, to provide the necessary scale for multi-state deployment. This collaborative structure shifts the burden of massive capital expenditure away from AT&T's balance sheet alone.

June 30, 2026: CPP Investments total assets reported at C$863.6 billion.
October 6, 2026: AT&T announced the joint venture agreement.
First half of 2027: The transaction is expected to close.

The Tech Race

This move reflects a broader industry pattern where carriers leverage institutional capital to fund high-cost physical fiber deployments. It positions AT&T to compete with other major telcos seeking to capture the surge in data throughput demand from AI model training and inferencing.

Residents in the 16 target states may see increased availability of high-speed fiber services as the infrastructure is deployed. Specific rollout timelines and pricing structures remain unannounced and depend on the transaction closing in 2027.

The takeaway

The move demonstrates how capital-intensive AI infrastructure needs are driving traditional telcos toward non-traditional funding models. Observers should track the H1 2027 closing date to see if the firm adds specific expansion details for individual states.