Verizon has signed an artificial-intelligence infrastructure agreement worth more than $2 billion with Amazon Web Services while raising its annual outlook following stronger-than-expected wireless subscriber growth.
The telecom company added 406,000 postpaid phone subscribers during the third quarter, nearly twice the approximately 209,000 expected by analysts tracked by Visible Alpha. Verizon said that represented its strongest third-quarter performance in five years.
Mobility and broadband service revenue reached approximately $23.5 billion, increasing 2.9% from a year earlier. Verizon also raised its full-year forecast for postpaid phone additions to between 1.1 million and 1.2 million.
Alongside the earnings results, Verizon announced an expanded relationship with AWS through an agreement valued above $2 billion. The arrangement establishes a commercial framework for infrastructure supporting distributed computing and generative and agentic AI workloads.
The deal illustrates how AI infrastructure spending is creating new opportunities beyond semiconductor manufacturers and cloud providers. Telecom networks capable of connecting increasingly distributed data centers are becoming another layer of the AI infrastructure buildout.
For investors, the next question is whether Verizon can sustain improved subscriber momentum while turning AI-related network infrastructure into a meaningful additional source of growth.
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