Agreement reserves 10% of Corning’s global
fiber capacity for each of the next two years to interconnect
AI-enabled data centers
Agreement will more than double Lumen’s
intercity network miles to unlock the next phases and capabilities
of AI for cloud data centers, enterprises, and public
agencies
Lumen Technologies (NYSE: LUMN) today announced an agreement
with Corning Incorporated (NYSE: GLW) for a substantial supply of
next-generation optical cable. This fiber-dense cable will more
than double Lumen’s U.S. intercity fiber miles, offering
significant capacity to major cloud data centers racing to stay
ahead of AI workloads and high bandwidth applications fueled by
massive amounts of data.
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The rapid advancement of generative artificial intelligence
requires at least 10 times more fiber connections within data
centers, as well as a robust fiber network to transmit information
between these data hubs. With this agreement, Lumen reserves 10% of
Corning’s global fiber capacity for each of the next two years.
The agreement, Lumen’s largest cable purchase, will equip Lumen
to meet the network infrastructure needs of major data center
operators for years to come, including Microsoft, which announced
last week that it’s investing with Lumen to support the rising
demand on its data centers.
“Lumen is the network that delivers AI. The rise of AI is
driving technology companies to quickly secure fiber and bandwidth
before their competition,” said Kate Johnson, president and CEO,
Lumen Technologies. “With Corning’s innovative solutions, we’re
building the backbone of the AI economy. This partnership gives
Lumen status as a preferred partner and secures a significant
supply of next-generation fiber today and in the future.”
Lumen has the largest ultra-low-loss intercity fiber network in
North America. Its U.S. intercity network includes diverse routes
to more than 50 major cities across the country. Lumen
distinguishes its network from others in the industry by
continuously upgrading its infrastructure using a multi-conduit
system, allowing for the quick deployment of the latest fiber
technology.
“As generative AI increases bandwidth requirements
between data centers, we’re pleased to reach an agreement with
Lumen Technologies to provide our latest optical fiber and cable
innovations to facilitate Lumen’s build of a new network to
interconnect AI-enabled data centers,” said Wendell P. Weeks,
chairman and CEO, Corning Incorporated. “This marks the first
outside-plant deployment of Corning’s new gen-AI fiber and cable
system, which will enable Lumen to fit anywhere from two-to-four
times the amount of fiber into their existing conduit.”
To properly power AI with capacity, performance, stability and
speed, Lumen is creating a digital platform on top of its physical
network allowing cloud-like consumption of network services.
Lumen’s Private Connectivity Fabric℠ is a custom network that
includes dedicated access to existing fiber in the Lumen network,
the installation of new fiber on existing and new routes, and
access to Lumen’s digital services.
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Caution Concerning Forward-Looking Statements
The statements contained in this release and related comments by
management that are not historical facts or information and contain
words such as “will,” “believe,” “anticipate,” “expect,” “intend,”
“plan,” “seek,” “see,” “would,” “target,” “estimate,” “forecast” or
similar expressions are forward-looking statements. These
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and include estimates and assumptions related to economic,
competitive and legislative developments. Such statements relate to
future events that by their nature address matters that are, to
different degrees, uncertain. These forward-looking statements
relate to, among other things, the company’s future operating
performance, the company’s share of new and existing markets, the
company’s revenue and earnings growth rates, the company’s ability
to innovate and commercialize new products, the company’s expected
capital expenditure and the company’s implementation of
cost-reduction initiatives and measures to improve pricing,
including the optimization of the company’s manufacturing
capacity.
Although the company believes that these forward-looking
statements are based upon reasonable assumptions regarding, among
other things, current estimates and forecasts, general economic
conditions, its knowledge of its business and key performance
indicators that impact the company, there can be no assurance that
these forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. The company undertakes no
obligation to update forward-looking statements if circumstances or
management’s estimates or opinions should change except as required
by applicable securities laws.
Some of the risks, uncertainties and other factors that could
cause actual results to differ materially from those expressed in
or implied by the forward-looking statements include, but are not
limited to: global economic trends, competition and geopolitical
risks, or an escalation of sanctions, tariffs or other trade
tensions between the U.S. and China or other countries, and related
impacts on our businesses’ global supply chains and strategies;
changes in macroeconomic and market conditions and market
volatility, including developments and volatility arising from
health crisis events, inflation, interest rates, the value of
securities and other financial assets, precious metals, oil,
natural gas, raw materials and other commodity prices and exchange
rates (particularly between the U.S. dollar and the Japanese yen,
New Taiwan dollar, euro, Chinese yuan and South Korean won), the
availability of government incentives, decreases or sudden
increases of consumer demand, and the impact of such changes and
volatility on our financial position and businesses; the duration
and severity of health crisis events, such as an epidemic or
pandemic, and its impact across our businesses on demand,
personnel, operations, our global supply chains and stock price;
possible disruption in commercial activities or our supply chain
due to terrorist activity, cyber-attack, armed conflict, political
or financial instability, natural disasters, international trade
disputes or major health concerns; loss of intellectual property
due to theft, cyber-attack, or disruption to our information
technology infrastructure; ability to enforce patents and protect
intellectual property and trade secrets; disruption to Corning’s,
our suppliers’ and manufacturers’ supply chain, equipment,
facilities, IT systems or operations; product demand and industry
capacity; competitive products and pricing; availability and costs
of critical components, materials, equipment, natural resources and
utilities; new product development and commercialization; order
activity and demand from major customers; the amount and timing of
our cash flows and earnings and other conditions, which may affect
our ability to pay our quarterly dividend at the planned level or
to repurchase shares at planned levels; the amount and timing of
any future dividends; the effects of acquisitions, dispositions and
other similar transactions; the effect of regulatory and legal
developments; ability to pace capital spending to anticipated
levels of customer demand; our ability to increase margins through
implementation of operational changes, pricing actions and cost
reduction measures; rate of technology change; adverse litigation;
product and component performance issues; retention of key
personnel; customer ability to maintain profitable operations and
obtain financing to fund ongoing operations and manufacturing
expansions and pay receivables when due; loss of significant
customers; changes in tax laws, regulations and international tax
standards; the impacts of audits by taxing authorities; the
potential impact of legislation, government regulations, and other
government action and investigations; and other risks detailed in
Corning’s SEC filings.
For a complete listing of risks and other factors, please
reference the risk factors and forward-looking statements described
in our annual reports on Form 10-K and quarterly reports on Form
10-Q.
Web Disclosure
In accordance with guidance provided by the SEC regarding the
use of company websites and social media channels to disclose
material information, Corning Incorporated (“Corning”) wishes to
notify investors, media, and other interested parties that it uses
its website
(https://www.corning.com/worldwide/en/about-us/news-events.html) to
publish important information about the company, including
information that may be deemed material to investors, or
supplemental to information contained in this or other press
releases. The list of websites and social media channels that the
company uses may be updated on Corning’s media and website from
time to time. Corning encourages investors, media, and other
interested parties to review the information Corning may publish
through its website and social media channels as described above,
in addition to the company’s SEC filings, press releases,
conference calls, and webcasts.
About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading
innovators in materials science, with a 170-year track record of
life-changing inventions. Corning applies its unparalleled
expertise in glass science, ceramic science, and optical physics
along with its deep manufacturing and engineering capabilities to
develop category-defining products that transform industries and
enhance people’s lives. Corning succeeds through sustained
investment in RD&E, a unique combination of material and
process innovation, and deep, trust-based relationships with
customers who are global leaders in their industries. Corning’s
capabilities are versatile and synergistic, which allows the
company to evolve to meet changing market needs, while also helping
its customers capture new opportunities in dynamic industries.
Today, Corning’s markets include optical communications, mobile
consumer electronics, display, automotive, solar, semiconductors,
and life sciences.
About Lumen Technologies
Lumen connects the world. We are igniting business growth by
connecting people, data, and applications – quickly, securely, and
effortlessly. Everything we do at Lumen takes advantage of our
network strength. From metro connectivity to long-haul data
transport to our edge cloud, security, and managed service
capabilities, we meet our customers’ needs today and as they build
for tomorrow. For news and insights visit news.lumen.com, LinkedIn:
/lumentechnologies, Twitter: @lumentechco, Facebook:
/lumentechnologies, Instagram: @lumentechnologies and YouTube:
/lumentechnologies.
© 2024 Corning Incorporated. All Rights
Reserved.
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Corning Media Relations Contact: John Arwood (828)
320-3249 arwoodjm@corning.com
Corning Investor Relations Contact: Ann H.S. Nicholson
(607) 974-6716 nicholsoas@corning.com
Lumen Media Relations Contact: Stephanie Meisse (419)
610-3142 stephanie.n.meisse@lumen.com
Lumen Technologies (NYSE:LUMN)
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