Lumen Technologies Surges 29% on AI Networking Optimism and Cost-Cutting Plans

Lumen Technologies (LUMN) rallied sharply this week, climbing 29.3% as of Friday afternoon. The enterprise networking firm, long burdened by declining revenues and heavy debt, appears to be turning a corner through strategic product launches and AI-driven demand.

The company unveiled RapidRoutes, a networking solution that slashes provisioning time from months to just 20 days while offering 400GB/s cloud connectivity. This technological leap coincides with CEO Kate Johnson's bullish projections at the Communacopia + Technology Conference, where she forecasted a return to revenue growth by 2028-2029.

Market enthusiasm stems from Lumen's $1 billion cost-reduction target by 2027 and the anticipated dominance of its 'Grow' business segment by 2025. While not a cryptocurrency play, Lumen's AI-powered networking infrastructure could indirectly benefit blockchain ecosystems requiring high-speed data transmission.