Lumen creates custom networking division to meet new demand
DENVER, August 5, 2024 /PRNewswire/ — Lumen Technologies (NYSE: LUMN) today announced that it has secured 5 billion dollars in the new business driven by the huge demand for AI-driven connectivity. Major companies across industry sectors are looking to quickly secure fiber capacity as this resource becomes increasingly valuable, and potentially limited, due to the growing needs of AI. In addition, Lumen is in active discussions with customers to secure another 7 billion dollars in sales opportunities to meet increased customer demand.
Lumen’s Private Connectivity Fabric℠ is a custom network that includes dedicated access to existing fiber in the Lumen network, installation of new fiber in existing and new routes, and use of Lumen’s new digital services. This is for illustrative purposes and does not show actual routes.
Lumen’s Private Connectivity Fabric℠ is a custom network that includes dedicated access to existing fiber in the Lumen network, installation of new fiber in existing and new routes, and use of Lumen’s new digital services. This is for illustrative purposes and does not show actual routes.
To address this tremendous demand, which includes Microsoft’s recent announcement, Lumen will double the miles of its intercity network 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 artificial intelligence economy is changing business operations, and companies are realizing that they need robust network infrastructure to manage unprecedented data flows today and demand in the future,” he said. Kate Johnson, president and CEO, Lumen Technologies. “Our partners are turning to us because of our AI-ready infrastructure and extensive network. This is just the beginning of a significant opportunity for Lumen, one that will lead to one of the largest Internet expansions 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 custom 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
In addition to the historical and factual information contained herein, the matters set forth in this release and other oral or written statements, including statements related to opportunities related to our Private Connectivity Fabric business, other opportunities for the generation of revenue, future sales and business, future events, business outlook, priorities, business sales and growth, demand for products and services and possible future transactions, and which can be identified by words 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 Securities Litigation Reform Act Privately held in 1995. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including the risks that we may not reach agreement on any such opportunity or transaction on the expected time or terms or at all, that the revenues of these opportunities or transactions may be less than our current expectations or that the liabilities associated with any such opportunity may be more significant than our current expectations, that the completion of any future transactions may be subject to conditions that may not be consummated on the expected timelines or at all, and that any such opportunity or transaction may not be consummated on a timely basis, 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. Except as required by law, we assume no obligation and expressly disclaim any such obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
About Lumen Technologies
The river connects the world. We’re fueling business growth by connecting people, data and applications – quickly, securely and effortlessly. Everything we do at Lumen benefits from the power of our network. From metro connectivity to long-haul data transport to our state-of-the-art 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.
SOURCE Lumen Technologies
