Lumen Creates Custom Networks Division to Meet New Demand
DENVER, Aug 5th 2024 /PRNewswire/ — Lumen Technologies (NYSE: LUMN) today announced that it is secured $5 billion in a new business driven by the huge demand for AI-powered connectivity. Major companies across industry sectors are looking to quickly secure fiber capacity, as this resource is becoming less and less important, due to the increasing demands of AI. Additionally, Lumen is in active discussions with customers to secure one $7 billion sales opportunities to meet increasing customer demand.
Lumen’s Private Connectivity Fabric℠ is a custom network that includes dedicated access to existing fiber in Lumen’s network, installation of new fiber in existing and new routes, and use of Lumen’s new digital services . This is for illustration purposes only and does not reflect actual directions.
Lumen’s Private Connectivity Fabric℠ is a custom network that includes dedicated access to existing fiber in Lumen’s network, installation of new fiber in existing and new routes, and use of Lumen’s new digital services . This is for illustration purposes only and does not reflect actual trends.
To address this huge demand, which includes Microsoft’s latest announcement, Lumen will more than double its network miles in the next five years, while providing access to a number of the growth of the dark fiber is inserted. In addition, Lumen has secured an agreement with Corning to be its preferred partner for its next-generation fiber optic line, which will help accommodate the increased data processing that AI requires.
“The AI economy is changing business processes, and companies are realizing that they need powerful network infrastructure to manage today’s unprecedented data flow and demand in the future coming,” said. Kate Johnson, president and CEO, Lumen Technologies. “Our partners are turning to us because of our AI-enabled tools and extended network. This is just the beginning of an important opportunity for Lumen, which will lead to one of the biggest expansions in the best internet ever.”
Lumen created a new Custom Networks division to manage its Private Connectivity Fabric℠ portfolio and address increased interest from hyperscalers and other large organizations. The division will provide specialized network solutions including dark fiber, common fiber routes, and digital services that securely connect companies’ data centers to protect data and support powerful AI workloads. Lumen may also operate and maintain networks as part of its services.
Forward-Looking Statements
In addition to the historical and factual information provided herein, the information contained in this release and other of our oral or written statements, including forward-looking statements regarding our Private Connectivity Fabric business, opportunities such as revenue generation, future sales and business, future events, business outlook, priorities, sales and business growth, demand for products and services, and potential future deals coming, and which can be distinguished by words such as “will,” “estimates,” “expects,” “plans,” “plans,” “by” and similar expressions, are forward-looking statements within the meaning of “safe harbor” the provisions of the Private Securities Litigation Reform Act of 1995. assumptions, including risks that we may not reach agreements on any such opportunities or transactions on the expected time or terms or at all, that revenues from any such opportunities or transactions may be below our current expectations or related commitments. in the event that any such opportunities may be more significant than our current expectations, that the consummation of any future transactions may be subject to conditions that cannot be satisfied in the expected timeframes or at all, and that any such opportunities or transactions may not be made on time, or at all. Many of these risks, doubts and assumptions are beyond our control. Actual events and results could differ materially from expectations, estimates or projections if one or more of these risks or uncertainties materialize, or if underlying assumptions are incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation and expressly disclaim any such obligation to publicly update any forward-looking statements, whether as a result of new information, future events or other.
About Lumen Technologies
Lumen unites the world. We connect business growth by connecting people, data, and processes – quickly, securely, and effortlessly. Everything we do at Lumen takes advantage of the power of our network. From metro connectivity to long-haul data transport to cloud, security, and managed services capabilities, we meet the needs of our customers today and as they build for tomorrow . For news and information visit news.lumen.com, LinkedIn: /lumeenchnologies, Twitter: @lumeenchnologies, Facebook: /lumeenchnologies, Instagram: @lumeenchnologies, and YouTube: /lumeenchnologies.
SOURCE Lumen Technologies
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