Reported 2 months ago
Lumen Technologies' stock skyrocketed by 75.2% this week due to significant new revenue deals related to artificial intelligence (AI), alongside a promising earnings report. Despite past challenges, including heavy debt and declines in legacy businesses, Lumen's partnership with Microsoft for AI connectivity and a recent announcement of $5 billion in AI-related deals signal potential growth, encouraging investor confidence. Additionally, plans for a $1 billion cost-cutting initiative by 2027 have further excited the market, though risks remain as the company faces ongoing revenue and debt management challenges.
Source: YAHOO