Fiber rollout & OneConnect accelerates convergence — 36M+ passings/42%, Lumen +1M cust/4M passings; Cricket stores to fiber hubs; $250B capex/$45B+ returns [developing]
Key Questions
What is the current status of AT&T's fiber rollout?
AT&T has reached over 36 million fiber passings with more than 40% convergence rate across 30 million locations, generating 17% of revenue with ARPU over $70 and up 6.2%. The OneConnect initiative with Citi aims for 40 million by end of 2026 and 60 million by 2030. Q2 postpaid adds were 641k and fiber adds 283k.
What are AT&T's fiber expansion targets?
AT&T plans $250 billion in capex with expected returns over $45 billion. OneConnect is accelerating convergence to 40 million passings by EOY 2026 and 60 million by 2030. Price targets from analysts are around $36.
What is the Lumen partnership with AT&T?
Lumen is adding 1 million customers and 4 million fiber passings through collaboration with AT&T. This supports AT&T's broader fiber convergence efforts.
How is Cricket Wireless involved in AT&T's fiber strategy?
AT&T is piloting Cricket stores as fiber hubs in Texas starting April 9, expanding beyond phone plans. This integrates Cricket with fiber services.
What is the UP Fiber Michigan divestiture?
AT&T confirmed divestiture of Upper Peninsula assets to UP Fiber, including 9k miles of copper, 1.5k miles of fiber, and over 9k customers. UP Fiber is expanding services and upgrading in Michigan with copper shutdown planned.
What challenges is AT&T facing with copper theft?
AT&T reported over 10,400 copper theft cases in 2025, averaging 200 per week, costing $82 million, with significant issues in California (7.3k cases/$54M) and organized crime in Dallas. This causes repair delays impacting fiber rollout.
Why are Trigg County magistrates resisting AT&T's copper retirement?
Trigg County Fiscal Court opposes AT&T's plan to retire copper landlines by end of 2025 in Kentucky, citing rural safety concerns over cheaper fiber alternatives, with full retirement by 2029.
What is Internet Air's role in AT&T's offerings?
Internet Air serves as a 5G complement to AT&T's fiber services, enhancing broadband options.
36M+ passings/>40% conv (30M locs/17% rev/ARPU$70+6.2%/cNPS27.1/+10% wireless share); OneConnect/Citi to 40M EOY26/60M 2030; Lumen +1M cust/4M passings; Cricket TX pilots/Apr9; confirmed UP Fiber Michigan UP divest (9k miles copper/1.5k fiber/9k+ cust, MI upgrades/copper shutdown); copper theft surge 10.4k cases/'25 $82M (200/wk CA 7.3k/$54M org crime/Dallas, repair delays fiber); Trigg KY magistrates resist copper retire EOY KY/2029 (rural safety vs cheaper fiber); PTs $36; Q2 adds/Q4641k postpaid/283k fiber; Internet Air as 5G complement.