Corning shares fell 12.68% to $145.30 Monday after the company entered an at-the-market equity distribution agreement with Goldman Sachs to sell up to $2 billion of common stock. The prospective issuance raised concerns over dilution and a potential valuation overhang, although the program does not require an immediate sale of the full amount. Corning said net proceeds will support general corporate purposes, including capital expenditures, strategic investments in optical capacity, debt reduction and dividend payments. The capital-raising plan follows a sharp rally in Corning shares tied partly to optimism over artificial-intelligence infrastructure demand and the company’s fiber-optic and connectivity business.