Cornet has joined West Ham United from Burnley after the Hammers triggered a £17.5m release clause in his contract at Turf Moor.
He had been linked with a host of clubs, including Newcastle, who want to make additions in the final third before the transfer window slams shut.
The Magpies did look at Cornet earlier in the transfer window, but did not not feel at £17.5m he represented value for money.
West Ham have not taken the same view and Cornet has now put pen to paper to a contract at the London Stadium.
The former Lyon man caught the eye at Turf Moor even during a season which saw Burnley relegated from the Premier League.
He made 28 appearances at Burnley, scoring nine goals and providing two assists, with one of his goals coming against Newcastle on the final matchday.
Cornet played for France at international youth level, but chose to represent the Ivory Coast at senior level.