What's Going On With Lumen Technologies Stock?

Lumen Technologies, Inc. LUMN shares are soaring after the company announced it has secured $5 billion in new business driven by major demand for connectivity fueled by artificial intelligence (AI).

The Details: Lumen said companies across industry sectors are seeking to secure fiber capacity quickly due to booming AI needs. The company also said it is in active discussions with customers to secure another $7 billion in sales opportunities to meet the increased customer demand.

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Lumen 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.

“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, CEO of 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.”

LUMN Price Action: According to Benzinga Pro, Lumen Technologies shares are up 53.28% after-hours at $3.97 after falling 15.64% during regular trading Monday.

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