August 6, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for giant investing concepts, together with AI and tech shares stories on buying and selling for tech inventory, Lumen Applied sciences (NYSE: LUMN).
The inventory is buying and selling at $4.8701, gaining $2.280, up 88.0348% on quantity of over 208 Million shares. The inventory had a morning excessive of $5.18.
Yesterday after the market shut Lumen introduced it had secured $5 billion in new enterprise pushed by main demand for connectivity fueled by AI. Massive corporations throughout business sectors are in search of to safe fiber capability shortly, as this useful resource turns into more and more worthwhile and doubtlessly restricted, attributable to booming AI wants. As well as, Lumen is in energetic discussions with prospects to safe one other $7 billion in gross sales alternatives to satisfy the elevated buyer demand.
To deal with this great demand, which incorporates the latest Microsoft announcement, Lumen will greater than double its intercity community miles over the subsequent 5 years, whereas additionally offering entry to a major quantity of put in darkish fiber. As well as, Lumen has secured an settlement with Corning to be its most well-liked accomplice for its next-generation fiber-dense cable, which is able to assist accommodate the elevated knowledge processing that AI requires.
“The AI economic system is altering enterprise operations, and firms are recognizing they want highly effective community infrastructure to handle the unprecedented knowledge flows at the moment and the demand sooner or later,” stated Kate Johnson, president and CEO, Lumen Applied sciences. “Our companions are turning to us due to our AI-ready infrastructure and expansive community. That is only the start of a major alternative for Lumen, one that may result in one of many largest expansions of the web ever.”
Lumen has created a brand new Customized Networks division to handle its portfolio of Non-public Connectivity Cloth℠ options and handle extra curiosity from hyperscalers and different massive organizations. The division will present personalized community options that embrace darkish fiber, customized fiber routes, and digital companies that securely join corporations’ knowledge facilities to guard knowledge and assist AI-intensive workloads. Lumen may function and preserve the community as a part of its companies.
Current information
https://finance.yahoo.com/information/ai-demand-drives-5-billion-201000035.html
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