Uniti is a fiber infrastructure and broadband company formed by the 2025 merger of Old Uniti and Windstream. The combined company owns roughly 240,000 fiber route miles across 47 states and serves over 1 million customers. Uniti operates through two core businesses. Kinetic is a fiber-to-the-home broadband provider serving residential and small business customers as the incumbent carrier across ~1,400 markets in 18 states, primarily in the Midwest and Southeast. Kinetic sells broadband internet, voice, and value-added services like Wi-Fi equipment and security bundles, and is actively replacing legacy copper with fiber to compete against cable and fixed wireless providers. As of end of 2025, Kinetic had ~535,000 fiber subscribers across ~1.9 million fiber-passed homes, with management targeting 40% long-term penetration versus ~29% today. Fiber Infrastructure leases and sells capacity on Uniti's nationwide fiber network to hyperscalers, wireless carriers, cable operators, and enterprise customers via dark fiber, optical wave services, colocation, and Ethernet transport. Large hyperscaler deals are often structured as long-term indefeasible right-of-use sales, generating lumpy upfront revenue, while recurring monthly contracts provide stable cash flow. Uniti also operates Uniti Solutions, a managed services business selling SD-WAN, security, and cloud communications to enterprises, though management treats this as non-core and expects revenue to decline. Uniti's growth strategy centers on accelerating Kinetic's fiber build and capitalizing on hyperscaler demand for AI and cloud infrastructure connectivity.