AT&T Expands Fiber Ambitions with BlackRock and New Partnerships

Following Verizon’s announcement of its acquisition of Frontier Communications, speculation about a new race for fiber assets has surged. Yesterday, AT&T and BlackRock responded with news of an expanded plan for their Gigapower fiber joint venture, while AT&T also revealed four new partnerships aimed at accelerating its fiber network growth.

Speaking at the Goldman Sachs Communacopia conference, AT&T CEO John Stankey emphasized the company’s desire to lead in the fiber space, stating, “My scale ambition is to be first and biggest as we go through this cycle that allows us to call more shots as the industry forms and plays over time.”

Initially announced in December 2022, the Gigapower joint venture was set to cover 1.5 million locations. However, the JV is now targeting broader expansion into new geographies, reflecting its strong growth momentum. Gigapower, an open-access network, allows multiple internet service providers (ISPs) to lease fiber infrastructure, facilitating competitive ISP access.

In addition to expanding Gigapower, AT&T is pursuing fiber leasing agreements with four open-access network providers: Boldyn Networks, Digital Infrastructure Group, PRIME FiBER, and Ubiquity. These partnerships are part of AT&T’s strategy to extend its fiber reach into areas that currently lack such infrastructure.

Boldyn Networks will help AT&T provide fiber to more than 75 U.S. Armed Forces bases, with initial projects at Fort Bliss in El Paso and joint bases in San Antonio. Digital Infrastructure Group is a wholesale fiber developer expanding in the U.S. and Canada, offering AT&T a way to enter new regions. PRIME FiBER, a new open-access provider, will first build in Florida, expanding on AT&T’s existing relationship with Prime Communications, its largest authorized retailer. Ubiquity will provide fiber access to multifamily communities and homeowners’ associations, starting with new projects in Minnesota.

AT&T’s aggressive fiber expansion efforts are not limited to these partnerships. The company continues to organically build its fiber network and expects to pass 30 million locations by 2025. Thanks to stronger-than-expected returns on its fiber investments, AT&T is now considering expanding its goal to 45 million locations.

With the Gigapower expansion and strategic partnerships, AT&T is positioning itself as a major player in the ongoing fiber asset race, aiming to dominate as demand for high-speed connectivity continues to grow.

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