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Lumen Technologies Stock Surges 9% on Fiber Network Expansion and AI Backbone Ambitions
Lumen Technologies Stock Surges 9% on Fiber Network Expansion and AI Backbone Ambitions
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BTCCSquare news:
Lumen Technologies (LUMN) rallied 9% Monday, outpacing the S&P 500's 0.4% gain, after announcing aggressive fiber-optic network expansion plans. The telecom added 2.2 million intercity fiber miles this year, targeting 16.6 million by December and 47 million by 2028 under its Big Build program.
The infrastructure push positions Lumen as an AI infrastructure play. "AI is fueling a surge in network demand like we've never seen," said EVP Kye Prigg, highlighting fiber's capacity to handle AI-driven data loads. The update comes as investors rotate from pure AI equities to enabling technologies.
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