Excellent. Lumen on Tuesday 7/30/24 said it had secured $5 billion in new deals from companies including Microsoft, which last quarter spent almost $14 billion in capex, mostly on AI investments. LUMN also said it was in active discussions with other customers to secure an additional $7 billion in sales as it’s seeing strong demand for its fiber, which enables secure digital connections for data centers.
These $7 billion in potential bookings appear aspirational, but could increase competitiveness for the business overall. “If AI customers are not just using [Lumen] for its unique network elements (such as its legacy spare conduits), the competition for other parts of these builds could increase." LUMN is a large customer of INFN.
Lumen stock is up 375% during the past month.
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