From Financial Modeling Prep: 2024-10-21 13:50:00

Lumen Technologies (NYSE:LUMN) shares surged over 15% after announcing a strategic collaboration with Meta Platforms (NASDAQ:META) to expand network capacity for AI infrastructure. The partnership will utilize Lumen’s Private Connectivity Fabric to enhance interconnection capabilities and bandwidth flexibility, supporting Meta’s AI-driven services for a more connected world.

The collaboration aims to meet the increasing demands for AI-driven services, crucial for Meta’s vision of advancing AI technology globally. This move highlights the growing need for infrastructure as AI applications evolve to handle complex tasks like real-time language translation and image generation. Meta will benefit from access to new fiber routes between data centers to scale operations for billions of users.

Meta’s partnership with Lumen underscores the importance of infrastructure in supporting AI applications as they become more sophisticated. The collaboration will provide Meta with the necessary network capacity and flexibility to meet the demands of its rapidly growing AI infrastructure, ensuring seamless scalability to serve billions of users worldwide.



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