Corning's stock surged 7.09% during intraday trading on Monday, marking a significant upward movement for the specialty glass and ceramics manufacturer.

The sharp rise follows reports that Corning has joined a Trump administration initiative to create a strategic stockpile of critical minerals. The effort, backed by $1.67 billion in private capital and a $10 billion loan from the U.S. Export-Import Bank, aims to reduce American reliance on Chinese rare earths and other vital materials.

Corning's participation in this supply chain security project is viewed positively by investors, as it could help secure the company's access to essential minerals used in its high-tech manufacturing processes, potentially mitigating future supply disruptions and cost volatility.