AT&T and BlackRock launched a joint venture company called Gigapower, which will offer a fiber network to ISP and other businesses in parts of select metro areas throughout the country using a commercial wholesale open access platform.
AT&T, which will be the first tenant on Gigapower, said the new JV will greatly expand the number of customers and communities with access its AT&T Fiber internet service. AT&T is already the nation’s largest fiber internet provider in the U.S. and has previously announced plans to pass 30 million-plus consumer and business locations in its traditional service areas by the end of 2025. Gigapower will enable AT&T to expand its fiber service reach beyond its traditional service areas.
In addition to Las Vegas, Gigapower now expects to expand beyond its previously announced fiber deployment in Mesa, to the Chandler and Gilbert areas of Arizona. Gigapower also plans to build fiber in parts of Northeastern Pennsylvania (including Wilkes-Barre and Scranton) as well as parts of Alabama and Florida that are outside AT&T’s current service areas.
“We believe fiber connectivity changes everything. That’s why we’re already one of the biggest investors in fiber in the United States,” said John Stankey, CEO of AT&T. “The demand for high-speed connectivity is unprecedented, and through this innovative partnership with BlackRock, one of the world’s foremost investors in infrastructure, we’re able to connect even more people and businesses, accelerating our efforts to help close the digital divide.”
“BlackRock is pleased to help bring critical broadband services to communities across America,” said Larry Fink, Chairman and CEO, BlackRock. “This investment on behalf of BlackRock’s clients will advance efforts to bridge the digital divide and spur economic growth in the communities where Gigapower operates.”
“Recently our first wholesale customer, AT&T, activated end-user customers on the Gigapower fiber network in Mesa, and that is just the beginning,” said Bill Hogg, CEO of Gigapower. “We have big plans to deploy multi-gig fiber to many more cities across our country. Our partnerships with communities like Las Vegas and others are essential to building our fiber network and creating a commercial wholesale open access platform that will benefit consumers and businesses across the U.S.”
https://about.att.com/story/2023/gigapower.html
- AT&T and BlackRock first announced the deal in December 2022.
