Lumen And Meta Join Forces To Boost AI With Flexible, On-Demand Network Solutions

Lumen Technologies, Inc. LUMN shares are trading higher on Monday after the company announced it is partnering with Meta Platforms, Inc. META to significantly increase Meta’s network capacity and help drive its AI ambitions.

Lumen’s partnership offers Meta enhanced flexibility with secure, on-demand bandwidth, supporting its complex computing requirements and enabling it to serve billions daily.

Ashley Haynes-Gaspar, Lumen’s EVP and chief revenue officer, said, “We’ve transformed our company to meet this demand. As Meta’s customers use more AI services across its platforms, we’re helping provide Meta with a seamless, effortless, and flexible network that will meet its growing needs.” 

Lumen Technologies said its Private Connectivity Fabric enables long-term network capacity for Meta’s AI.

Alex-Handrah Aimé, director of Meta’s Network Investments stated, “Our AI tools are performing increasingly more complex tasks including enabling conversations in a variety of languages and translating text to images in real time, while helping people interact with the world around them in new, immersive ways.”

Read: Chinese Hackers Breach AT&T, Verizon Networks In Major Wiretap Data Theft Putting US National Security At Risk: Report

Lumen will report third quarter 2024 results on November 5, 2024.

Investors can gain exposure to the stock via Invesco S&P SmallCap Utilities & Communication Services ETF PSCU and First Trust Cloud Computing ETF SKYY.

Price Action: LUMN shares are up 9.50% at $7.38 at the last check Monday.

Image via Shutterstock

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