Lumen Technologies Stock Sees Revival Amid AI-Driven Demand
Lumen Technologies (LUMN 0.99%), once beleaguered by legacy telecom declines, is experiencing a resurgence in 2024. The company's fiber network has become a critical infrastructure player for AI-driven data centers, securing Private Connectivity Fabric (PCF) contracts with major tech firms. These deals have propelled the stock up 125% from its April lows.
Despite its financial struggles—including asset sales and debt burdens—Lumen's pivot to high-bandwidth connectivity solutions has injected optimism. The shift mirrors broader trends in digital infrastructure demand, where latency reduction and scalable networks are paramount. However, questions linger about its long-term profitability and ability to capitalize on this momentum.