Infinera Corp - INFN STOCK NEWS

Zayo and Infinera (INFN) have successfully completed a live network trial achieving 1 Tb/s single wavelength transmission over 1,391 kilometers between Sacramento, CA and Salt Lake City using Infinera's ICE7 optical engine. This breakthrough enables Zayo to deliver 32 terabits of C-Band capacity across this link, with potential to double to 64 terabits with L-Band.

The trial demonstrates the integration of Infinera's ICE7, featuring a 5-nm CMOS DSP and high-speed optics capable of 140+ Gbaud transmission, into Zayo's network spanning 132,000 route miles in North America. The technology offers improved capacity-reach while reducing cost per bit, power consumption, and footprint of coherent optical transport.

This advancement positions Zayo to meet increasing capacity demands driven by AI, cybersecurity, and enterprise needs across its extensive 400G network infrastructure.

Infinera (NASDAQ: INFN) has announced that its pending acquisition by Nokia is expected to close on February 28, 2025, subject to remaining regulatory approvals and customary closing conditions. The company has set February 21, 2025, at 5:00 p.m. New York City time as the Election Revocation Deadline for stockholders to revoke their previously made merger consideration elections.

Stockholders who have made valid elections and wish to sell their shares can revoke their election before the deadline. After the deadline, shares subject to unrevoked elections cannot be sold or transferred. The merger consideration is set at $6.65 per share in cash for revoked elections, subject to proration as described in the Proxy Statement/Prospectus.

Stockholders can submit revocations through Computershare Trust Company, and those holding shares through banks or brokers should contact their intermediaries for assistance.

Infinera (NASDAQ: INFN) announced that C3ntro Telecom has successfully deployed Infinera's GX Series-based ICE6 800G solution and GX Open Line System to upgrade its network between Mexico City and Queretaro. The deployment enables a groundbreaking capacity of 1.6 Tb/s (2x800G) optical redundant transmission, connecting all data centers across both cities.

C3ntro Telecom, a Mexican operator with a 3,000 km carrier-grade fiber network across Mexico's top cities, will now offer enhanced data center services with 100G and 400G wavelengths capabilities. The upgrade aims to support high-bandwidth applications and meet increasing demands driven by AI-powered applications and cloud-based solutions.

Infinera (NASDAQ: INFN) has received a Gold Medal from EcoVadis, a global business sustainability ratings provider, highlighting the company's ESG achievements. Infinera scored 79 points across key evaluation criteria, placing it in the 98th percentile and top 5% of assessed companies.

The company has set ambitious environmental goals aligned with the Paris Agreement, including an 85% reduction in Scope 1 and 2 greenhouse gas emissions and a 25% reduction in Scope 3 emissions by 2030. These targets demonstrate Infinera's commitment to reducing the environmental impact of their open optical networking equipment operations.

CEO David Heard emphasized the company's dedication to addressing climate change and social inequality in the telecommunications industry, highlighting their focus on creating a more connected, equitable, and sustainable future through value chain partnerships and process improvements.

Infinera (NASDAQ: INFN) reported Q3 2024 financial results with revenue of $354.4 million, up from $342.7 million in Q2 2024 but down from $392.4 million in Q3 2023. The company posted a GAAP net loss of $14.3 million ($0.06 per share) and a non-GAAP net income of $0.3 million. GAAP gross margin was 39.8%, while operating margin was -3.1%. The company generated positive cash flow from operations of $44.5 million and ended the quarter with $115.6 million in cash. Infinera secured design wins for ICE-X coherent pluggables and signed a preliminary memorandum with the U.S. Department of Commerce for potential CHIPS Act funding exceeding $200 million. The pending merger with Nokia remains on track for closure in H1 2025.

Infinera (Nasdaq: INFN) has signed a non-binding preliminary memorandum of terms with the U.S. Department of Commerce to potentially receive up to $93 million in direct funding through the CHIPS and Science Act. When combined with investment tax credits, this could result in over $200 million in total federal incentives.

The proposed funding aims to support the expansion and modernization of Infinera's semiconductor capabilities in Silicon Valley, California, and advanced test and packaging capabilities in Lehigh Valley, Pennsylvania. This expansion could increase domestic manufacturing capacity by an estimated factor of ten and create up to 1,700 manufacturing and construction jobs.

The funding is expected to strengthen America's supply chain, economic, and national security. Infinera's unique photonic semiconductors address the increased demand for bandwidth and open new markets inside data centers driven by AI workloads growth.

Infinera announced that Converge ICT Solutions, the leading fiber broadband provider in the Philippines, has chosen Infinera as its submarine line terminal equipment vendor for the Bifrost Cable System. Converge will use Infinera's GX Series Compact Modular Platform and 1.2T ICE7 optical engine for both submarine and terrestrial networks.

The Bifrost Cable System, spanning over 15,000 km, connects North America with the Philippines, Indonesia, and Singapore. Converge has been granted an Indefeasible Right of Use (IRU) for one fiber pair on the main trunk and the entire Davao branch.

Infinera's solution will enable Converge to deliver high capacity at low cost over ultra-long distances, benefiting from advanced high-speed optics and 5-nm technology. This selection underscores Infinera's expertise in deploying critical networks globally.

Infinera announced that Poka Lambro Telecommunications has deployed Infinera's XTM Series to upgrade its regional fiber broadband and middle-mile network across rural western Texas. The deployment, funded by the ReConnect Program, enables Poka Lambro to deliver 400G services across the region, providing reliable middle-mile connectivity for its own needs and those of other internet service providers (ISPs).

Poka Lambro serves communities across 4,200 square miles in West Texas, primarily supporting regions south of Lubbock to just north of Midland. The network upgrade allows Poka Lambro to increase its capacity and expand its service area, supporting vital services like remote working, telemedicine, and high-speed internet connectivity in previously unconnected rural regions. The solution was delivered in partnership with t3 Broadband, an experienced provider of rural broadband network implementation services.

Infinera (NASDAQ: INFN) announced that its greenhouse gas (GHG) emission reduction targets have been validated by the Science Based Targets initiative (SBTi). This validation reinforces Infinera's commitment to sustainability in the telecommunications industry through energy-efficient optical networking solutions and ESG initiatives.

SBTi has classified Infinera's Scope 1 and Scope 2 target ambitions as aligned with keeping global warming to 1.5°C in accordance with the Paris Agreement. Infinera's validated targets include:

• Reducing absolute Scope 1 and Scope 2 GHG emissions by 85% by 2030 from a 2020 base year
• Reducing absolute Scope 3 GHG emissions by 25% within the same timeframe

Infinera has already reduced Scope 1 and 2 GHG emissions by 75% since 2020 and is using renewable energy in over 80% of its Tier 1 and Tier 2 sites.