Verizon announced a $5 billion investment over five years to support U.S. small business suppliers, aiming to strengthen domestic supply chains.
Verizon launched a new grant cycle, offering $10,000 grants to small businesses with applications open until June 30. Since 2021, Verizon has awarded $13.5 million in grants to support small businesses.
Verizon has supported nearly half a million small businesses through Small Business Digital Ready since 2021, almost halfway to the company’s goal to equip one million small businesses with the skills and resources they need to thrive in the digital economy by 2030.
Major tech firms are ramping up U.S. investments, with Apple committing $500 billion over four years, IBM pledging $150 billion over five years, and Nvidia planning to build $500 billion worth of AI servers in the U.S.
The investments align with President Donald Trump’s push for local manufacturing to reduce dependence on foreign supply chains.
Verizon CEO Hans Vestberg noted that only a small part of its $18 billion annual capital expenditure is affected by tariffs, primarily on imported wireless equipment, Reuters news report said.
Verizon Business has reported $7.3 billion in revenue for Q1 2025, a 1.2 percent decline year-over-year. Verizon Business wireless service revenue grew by 2.8 percent to $3.6 billion, with 94,000 wireless retail postpaid net additions, including 67,000 postpaid phone net additions. Wireless retail postpaid churn was 1.52 percent, while phone churn was 1.15 percent.
Verizon Business segment added 109,000 fixed wireless net additions. Verizon Business operating income rose by 66.4 percent to $664 million, with a margin increase to 9.1 percent from 5.4 percent in Q1 2024. EBITDA grew by 10.3 percent to $1.7 billion, raising the EBITDA margin to 23.1 percent from 20.7 percent a year ago.
TelecomLead.com News Desk
