Lumen Technologies records largest fiber optic purchase agreement with Corning

Lumen Technologies has concluded its largest fiber purchase agreement to date with Corning Incorporated, with the aim of more than doubling its intercity network length and enhancing AI capabilities for cloud data centers, enterprises, and public authorities. The agreement secures for Lumen 10% of Corning's global fiber capacity over the next two years. Lumen, which has one of the largest intercity fiber networks with extremely low latency in North America, covers diverse routes to over 50 major cities. The rapid rise of generative AI applications now requires at least ten times more fiber connections within data centers and a robust fiber network to transfer information between these hubs. Corning's fiber-rich conduit will support Lumen's development of a new network connecting AI-enabled data centers. Lumen emphasized that this partnership establishes the company as a preferred partner and ensures a substantial supply of next-generation fiber both now and in the future. Through the company's multi-channel conduit system, rapid upgrades and the integration of new fiber technologies can be achieved. This agreement represents the first "outside-plant deployment" of Corning’s next-generation fiber and cable system. This allows Lumen to incorporate two to four times more fiber into its existing conduit. Recently, Microsoft declared Lumen its partner for expanding network capacity and supporting the development of its next generation of applications for global Microsoft platform customers. Moreover, Lumen will leverage Microsoft’s cloud and AI technologies to drive its enterprise-wide digital transformation. Lumen, a global provider of communication services, offers network technologies, edge cloud, collaboration and cybersecurity solutions, as well as managed services, to enhance business efficiency and create seamless, user-friendly technology environments. The company's stock, which holds a Zacks Rank #3 (Hold), has surged 83.3% over the past year, compared to a 28.9% growth in the sub-industry.