- AT&T and BlackRock have formed a joint venture called Gigapower, LLC, to build multi-gigabit fiber optic internet connections in select metro areas, including parts of Florida.
- The partnership combines AT&T’s fiber network with BlackRock’s infrastructure investment expertise to provide super-fast and reliable fiber connectivity to more Americans.
- The specific markets in Florida were not disclosed, but the venture aims to increase AT&T’s reach in the state and bring competition to the fiber-optic market, benefiting residents and businesses with expanded access and potential cost reductions.
AT&T and BlackRock have officially completed a joint venture to form a new joint venture called Gigapower, LLC, aimed at building out multi-gigabit fiber optic internet connections in select metro areas, including parts of Florida, according to an announcement made by the two companies.
According to a press release, the partnership brings together AT&T’s existing fiber network and BlackRock’s expertise in infrastructure investments, with the goal to “give more Americans access to super-fast, reliable, high-capacity fiber.” The release said the joint project will provide internet service providers and businesses a state-of-the-art fiber network to a certain Florida metro areas “using a commercial wholesale open access platform.”
“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.”
The specific markets being targeted in Florida were not disclosed in the release, and a spokesperson for the venture declined to elaborate.
As the first occupant of the Gigapower network, AT&T said it aims to significantly increase the reach of its AT&T Fiber service. The telecom giant already holds the title as the largest fiber internet provider in the U.S. and has plans to reach more than 30 million consumer and business locations in its traditional service areas by 2025.
While AT&T already has a considerable presence in Florida, the formation of Gigapower will likely extend its reach in the Sunshine State, particularly in regions not currently served by AT&T. Previous releases about Gigapower have said that the company plans to leverage existing wireless sales infrastructure to sell the new fiber service.
Gigapower’s plans to expand the fiber network in Florida will bring more competition in the fiber-optic market and could potentially benefit residents and businesses alike, providing expanded access to advanced broadband technologies or lower prices through direct competition with other fiber operators, including Google Fiber, Metronet and others.