It goes without saying at this point that any investor worth their salt likely has exposure to Nvidia within their large-cap allocation. After all, for years now, the chipmaker and AI giant has been a significant driver of growth within countless equity portfolios.
Key Takeaways:
- Mega-cap tech giant Nvidia may be positioned to continue its dominant run. It recently announced a new deal with Corning, a glassmaker well-known for partnering with major tech players.
- The deal is slated to build three new manufacturing facilities in North Carolina and Texas.
- This creates over 3,000 jobs and amplifies Corning’s U.S. optical connectivity manufacturing capacity.
That being said, as the months have gone by, some naysayers have wondered whether Nvidia’s momentum would remain sustainable. However, recent developments seem to indicate that Nvidia remains well-positioned for further innovation and sturdy infrastructure.
On Wednesday, Nvidia announced a significant partnership with glassmaker Corning to create three brand-new manufacturing facilities. Located in North Carolina and Texas, Corning notes these facilities will increase its U.S. optical connectivity manufacturing capacity by tenfold. Furthermore, the new facilities will bolster U.S. fiber production capacity by over 50%, while creating over 3,000 jobs in the process.
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Though the specifics of what will be developed at these facilities are unknown at this time, CNBC assessed that Nvidia may be planning to use Corning’s optical glass fibers in its AI rack-scale systems in lieu of copper. Known as co-packaged optics, this design could optimize power consumption, amplify reliability, and much more.
“AI is driving the largest infrastructure buildout of our time — and a once-in-a-generation opportunity to reinvigorate American manufacturing and supply chains,” noted Jensen Huang, founder and CEO of Nvidia. “Together with Corning, we are inventing the future of computing with advanced optical technologies — building the foundation for AI infrastructure where intelligence moves at the speed of light while advancing the proud tradition of Made in America.”
Nvidia's New Deal Could Bode Well for SPMO
These developments mark an opportune moment for one to reassess if they’re getting enough exposure to Nvidia and Corning alike. One way to do so is through the aptly-titled Invesco S&P 500 Momentum ETF (SPMO ).
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A momentum-based take on large-cap exposure, SPMO’s strategy employs the S&P 500 Momentum Index. This index tracks the companies within the S&P 500 that are seeing the most significant price growth over the past year. As one would expect, Nvidia and Corning are stocks within the fund’s portfolio. Nvidia holds the top spot in portfolio weight as of May 5, 2026.
SPMO’s momentum-forward approach has paid off in recent months, with the fund posting impressive results. As of April 30, 2026, the fund’s NAV has risen a whopping 42.79% year-to-date.
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