AT&T's New Fiber Joint Venture: What It Means for Your Internet
Updated
AT&T is folding two fiber businesses into one new joint venture: Gigapower and the fiber network it bought from Lumen last winter. The deal, announced October 6, 2026, brings in BlackRock's Global Infrastructure Partners (GIP) and Canada Pension Plan Investment Board (CPP Investments) as partners. It's a big Wall Street story, but most households want to know one thing: does it change my internet? Here's what's happening and what it means for AT&T Fiber customers, former Quantum Fiber customers and anyone waiting for fiber.
What changed: On October 6, 2026, AT&T announced it will combine Gigapower and the fiber network it bought from Lumen into one wholesale, open-access fiber company. AT&T will own 50%, and GIP and CPP Investments will own the other 50%. The deal is expected to close in the first half of 2027. For customers, nothing changes yet: no plan, price or billing changes were announced.
Based on AT&T's October 6, 2026 announcement, reviewed October 7, 2026.
The deal in plain English
- What's combining: Gigapower, AT&T's existing open-access fiber joint venture with GIP, and Forged Fiber 37, the AT&T subsidiary that holds the fiber network, construction crews and operations AT&T acquired from Lumen.
- Who owns it: AT&T will own 50%. GIP and CPP Investments will together own the other 50%.
- What it does: The new company will be a wholesale, open-access fiber network. It builds and runs the fiber lines, and internet providers sell service over them.
- Size: Nearly 5 million fiber locations serving more than 1 million subscribers at closing, according to AT&T's figures as reported by Light Reading. Reuters reported the venture covers major metro areas in 16 states.
- Timing: Expected to close in the first half of 2027, subject to regulatory approvals.
Before and after the deal
| Today | After closing (expected first half of 2027) | |
|---|---|---|
| Gigapower | AT&T and GIP joint venture that builds open-access fiber | Part of the new joint venture |
| Former Lumen fiber network | Owned by AT&T (through its Forged Fiber 37 subsidiary) since Feb. 2, 2026 | Part of the new joint venture |
| Ownership of the combined network | Split between AT&T alone and the AT&T-GIP venture | AT&T 50%; GIP and CPP Investments 50% |
| Your AT&T Fiber service | Sold and billed by AT&T | No customer changes announced |
Based on AT&T's October 6, 2026 announcement. Network size figures above come from AT&T as reported by Light Reading and Reuters.
Why AT&T is doing this
AT&T closed its $5.75 billion purchase of Lumen's consumer fiber business on February 2, 2026. That deal added more than a million fiber customers in markets such as Denver, Seattle and Salt Lake City. AT&T had said it planned to bring in an equity partner for those fiber assets. This joint venture is that partner deal. It gives AT&T cash at closing and outside money to keep building fiber beyond its traditional phone-company footprint, without carrying the full cost on its own books.
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What changes for current customers? (Probably nothing yet)
AT&T Fiber customers
Nothing changes right away. The deal hasn't closed, and none of the companies has announced changes to customer plans, prices or billing. AT&T kept the customer relationships from the Lumen deal and still sells service to those homes. The joint venture is about who owns and builds the network behind the scenes.
Former Quantum Fiber customers
If you had Lumen's Quantum Fiber, your service is already part of AT&T. This deal moves the network those lines run on into the new venture, but your provider relationship is with AT&T. Watch for official notices before assuming any change to your plan or price.
Gigapower areas
Gigapower builds fiber that multiple providers can sell, including AT&T. If you live in a Gigapower market, you may see more provider choices on the same fiber line over time. That's the main promise of open access.
What "open access" means for shoppers
On a traditional network, the company that owns the wires is the only one selling service on them. On an open-access network, the owner rents capacity to several internet providers. In theory that means more competition on price and service, even though the same fiber reaches your home. In practice, the number of providers on an open-access network varies by market, and AT&T is expected to remain the biggest seller on this one.
Will this bring fiber to my street sooner?
Maybe. A key goal of the venture is to speed up fiber construction in more U.S. communities, and AT&T has said the joint venture will be its primary partner for building outside its traditional service area. But no new build maps or timelines came with the announcement. To see what's available today, check your address with AT&T and other providers. Our guide to when AT&T Fiber will be available in your area explains how to check and get notified.
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Frequently asked questions
Is AT&T selling its fiber network?
Partly. AT&T will own 50% of the new joint venture, with GIP and CPP Investments owning the other 50%. AT&T keeps its customers and its own fiber network outside the venture.
Will my AT&T Fiber price change because of the joint venture?
No changes have been announced. The deal is expected to close in the first half of 2027, and customer plans are set by AT&T, not the network owner.
What is Gigapower?
Gigapower is AT&T's open-access fiber joint venture with BlackRock's GIP. It builds fiber outside AT&T's traditional footprint and lets multiple providers sell service on it.