AT&T, BlackRock’s Global Infrastructure Partners (GIP) and Canada Pension Plan Investment Board (CPP Investments) have agreed to form a joint venture to expand fiber internet access in the United States. AT&T will own 50% of the venture, while GIP and CPP Investments will collectively own the remaining 50%.
The new company will operate as a wholesale, open-access fiber provider. It will combine AT&T’s existing Gigapower joint venture with GIP and the “Forged Fiber 37” assets recently acquired from Lumen.
The venture supports AT&T’s plan to reach more than 60 million fiber locations by 2030. The company aims to meet rising connectivity demand, partly driven by artificial intelligence. The transaction is expected to close in the first half of 2027.