Corning has been betting that the massive infrastructure demands of AI will drive its next wave of growth, relying on its specialized optical fiber to link hyperscale data centers.

That wager has resonated with Wall Street, more than doubling its shares over the past year. But its guidance for 16% growth in core sales failed to meet investors' lofty expectations.

The specialty glass, ceramics, and optical fiber company expects sales to come in between $4.9 billion and $5 billion; analysts had expected $5 billion sales.

Shares in Corning are down more than 17% in premarket trading