From Nasdaq: 2024-08-01 19:07:45

Lumen Technologies stock soared over 100% this week following a partnership with Corning Incorporated. The company will reserve 10% of Corning’s fiber optic cable production to capitalize on the AI boom. Despite the recent surge, Lumen stock is still down 70% over the past five years due to declining revenue and negative cash flow.

Lumen also announced a partnership with Microsoft to supply network infrastructure for its Azure Cloud AI systems. The Corning partnership secures at least 10% of Corning’s global fiber capacity for Lumen. Investors are optimistic about the potential revenue and profit growth from these partnerships, driving the stock price up significantly this week.

Although Lumen Technologies faces challenges with debt and negative cash flow, the recent partnerships could signal a turnaround. With the stock priced at $3.32, investors see high-risk, high-reward potential in Lumen. Keep an eye on how these AI partnerships develop and their impact on the company’s financial performance in the future.



Read more at Nasdaq: Lumen Technologies Stock Went to the Moon This Week. Here’s Why