Here's Why Verizon, BlackRock Collaborated

March 1, 2022 5:33 AM | 1 min read

Verizon Communications Inc VZ looks to build a private 5G network for BlackRock Inc at its new Hudson Yards headquarters, juicing up rivalry with AT&T Inc T and T-Mobile US Inc TMUS.
Verizon said that the new 5G wireless technology could replace Wi-Fi and give BlackRock the ability to use applications like virtual reality and edge computing that require nearly instantaneous network response time.
The leading asset manager looks to occupy 15 floors of the new 50 Hudson Yards tower on Manhattan’s West Side later this year or early next year, Bloomberg reports.
BlackRock secured $25 million in tax credits from the state for keeping and creating jobs in New York.
Price Action: VZ shares closed lower by 0.83% at $53.67 on Monday.