Lumen Creates Custom Networks Division to Meet
New Demand
DENVER, Aug. 5, 2024
/PRNewswire/ -- Lumen Technologies (NYSE: LUMN) today
announced it has secured $5 billion
in new business driven by major demand for connectivity fueled by
AI. Large companies across industry sectors are seeking to secure
fiber capacity quickly, as this resource becomes increasingly
valuable and potentially limited, due to booming AI needs. In
addition, Lumen is in active discussions with customers to secure
another $7 billion in sales
opportunities to meet the increased customer demand.
To address this tremendous demand, which includes the recent
Microsoft announcement, Lumen will more than double its intercity
network miles over the next five years, while also providing access
to a significant amount of installed dark fiber. In addition, Lumen
has secured an agreement with Corning to be its preferred
partner for its next-generation fiber-dense cable, which will help
accommodate the increased data processing that AI requires.
"The AI economy is changing business operations, and companies
are recognizing they need powerful network infrastructure to manage
the unprecedented data flows today and the demand in the future,"
said Kate Johnson, president and
CEO, Lumen Technologies. "Our partners are turning to us because of
our AI-ready infrastructure and expansive network. This is just the
beginning of a significant opportunity for Lumen, one that will
lead to one of the largest expansions of the internet ever."
Lumen has created a new Custom Networks division to manage its
portfolio of Private Connectivity Fabric℠ solutions and
address additional interest from hyperscalers and other large
organizations. The division will provide customized network
solutions that include dark fiber, custom fiber routes, and digital
services that securely connect companies' data centers to protect
data and support AI-intensive workloads. Lumen may also operate and
maintain the network as part of its services.
Forward Looking Statements
Except for the historical
and factual information contained herein, the matters set forth in
this release and other of our oral or written statements, including
statements related to opportunities with respect to our Private
Connectivity Fabric business, other revenue generating
opportunities, future sales and business, future events, business
outlook, priorities, sales and business growth, demand for products
and services, and potential future transactions, and that may be
identified by words such as "will," "estimates," "expects,"
"projects," "plans," "could" and similar expressions, are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to a number of risks,
uncertainties and assumptions, including the risks that we may not
reach agreements with respect to any such opportunities or
transactions on the expected timeframe or terms or at all, that the
revenue from any such opportunities or transactions may be less
than our current expectations or that the obligations associated
with any such opportunities may be more significant than our
current expectations, that the completion of any future
transactions may be subject to conditions that may not be satisfied
on expected timeframes or at all, and that any such opportunities
or transactions may not be executed in a timely manner, or at all.
Many of these risks, uncertainties and assumptions are beyond our
control. Actual events and results may differ materially from those
anticipated, estimated or projected if one or more of these risks
or uncertainties materialize, or if underlying assumptions prove
incorrect. You should not place undue reliance on these
forward-looking statements, which speak only as of the date made.
Unless legally required, we undertake no obligation and expressly
disclaim any such obligation to update publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ai-demand-drives-5-billion-in-new-business-and-massive-expansion-of-the-internet-302214737.html
SOURCE Lumen Technologies