Why Lumen Technologies Rocketed 75% This Week
LUMNLumen(LUMN) The Motley Fool·2024-08-10 01:17

The distressed company announced a big AI networking deal. Shares of broadband and fiber network operator Lumen Technologies (LUMN 4.18%) rocketed 75.2% higher this week, according to data from S&P Global Market Intelligence. The company reported a surge of new revenue deals related to artificial intelligence (AI) and also reported earnings this week. While Lumen has struggled under a heavy debt load with declining legacy businesses in recent years, the AI revolution appears to be offering Lumen new growth ...