Demand for AI will drive $5 billion in new business and massive expansion of the internet

Lumen is setting up a customized networking division to meet the new demand

DENVER, August 5, 2024 /PRNewswire/ — Lumen Technologies (NYSE: LUMN) today announced that it has secured insurance $5 billion in new business, driven by the high demand for connectivity, fueled by AI. Major companies across industry sectors are quickly seeking to secure fiber optic capacity as this resource becomes increasingly valuable and potentially limited due to growing AI needs. In addition, Lumen conducts active discussions with customers to secure another $7 billion in sales opportunities to meet increased customer demand.

To meet this enormous 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. Additionally, Lumen has entered into an agreement with Corning as a preferred partner for its next-generation fiber optic cable, which will help meet the increased data processing that AI requires.

“The AI ​​economy is transforming business operations and companies are recognizing that they need a powerful network infrastructure to manage today’s unprecedented data flows and tomorrow’s demand,” said Kate Johnsonpresident and CEO of Lumen Technologies. “Our partners turn to us for 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 expansions of the Internet ever.”

Lumen has created a new Custom Networks division to manage its portfolio of Private Connectivity Fabric℠ solutions and meet additional interest from hyperscalers and other large organizations. The division will provide customized networking solutions including dark fiber, custom fiber routes and digital services that securely connect enterprise 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 press release and other of our oral or written statements, including statements regarding opportunities related to our Private Connectivity Fabric business, other revenue generating opportunities, future sales and business activities, future events, business prospects, priorities, sales and business growth, demand for products and services and potential future transactions, and which can be identified by words such as ‘will’, ‘estimate’, ‘expect’, ‘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 agreement on such opportunities or transactions within the expected timeframe or on the expected terms or at all, that the returns from such opportunities or transactions may be less than our current expectations or that the liabilities associated with them pursuing such opportunities may be more important than our current expectations, that the completion of future transactions may be subject to conditions that may not be satisfied within expected timeframes or at all, and that such opportunities or transactions may not be consummated in a timely manner , or not at all. Many of these risks, uncertainties and assumptions are beyond our control. Actual events and results may differ materially from those expected, 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 on which they are made. Except as required by law, we assume no obligation, and expressly disclaim any such obligation, to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

About Lumen Technologies
Lumen connects the world. We drive business growth by connecting people, data and applications quickly, securely and effortlessly. In everything we do at Lumen, we benefit from the power of our network. From metro connectivity to long-distance data transport to our edge cloud, security and managed service capabilities, we meet our customers’ needs today and as they build tomorrow. For news and insights, visit news.lumen.com, LinkedIn: /lumentechnologies, Twitter: @lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies and YouTube: /lumentechnologies.

SOURCE Lumen Technologies