Lumen Creates Private Networks Division to Meet New Demand
DENVER, August 5, 2024 /PRNewswire/ — Lumen Technologies (NYSE: LUMN) today, 5 billion dollars New business driven by huge demand for AI-powered connectivity. Large companies across industry sectors are rapidly securing fiber capacity as this resource becomes increasingly valuable and potentially limited due to increasing AI needs. Additionally, Lumen has 7 billion dollars In sales opportunities to meet increasing customer demand.
To meet this tremendous demand, including Microsoft’s recent 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. Lumen has also reached an agreement with Corning to be its preferred partner for its next-generation fiber-dense cable that will help meet the increasing data processing required by AI.
“The AI economy is changing business operations, and companies are realizing they need a robust network infrastructure to manage today’s unprecedented data flows and future demand,” he said. Kate Johnson“Our partners are turning to us because of our AI-ready infrastructure and vast 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 Private Networks division to manage its portfolio of Private Connectivity Fabric℠ solutions and address additional interest from hyperscalers and other large enterprises. The division will provide customized network solutions that include dark fiber, private fiber routes, and digital services that securely connect companies’ data centers, protecting data and supporting AI-intensive workloads. Lumen can also operate and maintain the network as part of its services.
Forward-looking statements
Except for the historical and factual information contained herein, matters expressed in this announcement and in our other oral or written statements, including statements regarding opportunities related to our Special Linkage 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 those that may be identified by expressions such as “will,” “estimates,” “expects,” “projects,” “plans,” “may” 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 include statements that we may not reach agreement on such opportunities or transactions on the expected timeframes or terms or at all, that the proceeds from such opportunities or transactions will be less than our current expectations or that the liabilities associated with such opportunities will be more significant than our current expectations, that any future transactions may be subject to conditions that will not be satisfied within the expected timeframes or at all, and that such opportunities or transactions may not be consummated on a timeframe or at all. Many of these risks, uncertainties and assumptions are beyond our control. Actual events and results could 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 they are made. 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, except as required by law.
About Lumen Technologies
Lumen connects the world. We fuel business growth by connecting people, data, and applications quickly, securely, and effortlessly. Everything we do at Lumen leverages the power of our network. From metro connectivity to long-haul data transport to our edge cloud, security, and managed services capabilities, we meet our customers’ needs as we build for today and tomorrow. For news and insights, visit news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies, and YouTube: /lumentechnologies.
SOURCE Lumen Technologies