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Lumen Technologies, Inc. (LUMN - Free Report) has announced its largest cable purchase deal with Corning Incorporated, aiming to more than double its intercity network miles to advance AI capabilities for cloud data centers, enterprises and public agencies. This agreement secures 10% of Corning's global fiber capacity for Lumen over the next two years.
Lumen, one of North America's largest ultra-low-loss intercity fiber networks, covers diverse routes to more than 50 major cities nationwide. The swift proliferation of generative AI applications now demands at least 10 times more fiber connections within data centers and a strong fiber network to transfer information between these hubs. Corning's fiber-dense cable will support Lumen's development of a new network to interconnect AI-enabled data centers.
Lumen highlighted that this partnership establishes it as a preferred partner and ensures a substantial supply of next-generation fiber both now and in the future. The firm’s use of a multi-conduit system facilitates rapid upgrades and the integration of new fiber technology.
The agreement represents the first-ever “outside-plant deployment” of Corning’s next-gen AI fiber and cable system. This will allow Lumen to fit two to four times more fiber into its existing conduit.
Recently, Microsoft selected Lumen to expand its network capacity and support the development of its next-generation applications for global Microsoft platform customers. Additionally, Lumen will leverage Microsoft’s cloud and AI technologies to boost its enterprise-wide digital transformation.
Lumen, a global communications services provider, offers networking, edge cloud, collaboration and cybersecurity solutions, along with managed services, to enhance business efficiency and create seamless, user-friendly technology environments.
Shares of the Zacks Rank #3 (Hold) company have gained 83.3% in the past year compared with the sub-industry’s growth of 28.9%.
The Zacks Consensus Estimate for Badger Meter’s 2024 EPS has increased 4.37% in the past 60 days to $4.06. Its long-term earnings growth rate is 17.9%. Badger Meter’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 12.89%. BMI shares have risen 18.2% in the past year.
The Zacks Consensus Estimate for Arista Network’s 2024 EPS has increased 3.16% in the past 60 days to $8.17. Its long-term earnings growth rate is 16.1%. Arista Networks’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average earnings surprise of 15.02%. Shares of ANET have gained 78% in the past year.
The Zacks Consensus Estimate for Generac Holdings’ 2024 EPS has increased 0.6% in the past 60 days to $6.3. Its long-term earnings growth rate is 12%. Generac Holdings’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 9.75%. GNRC shares have risen 26.8% in the past year.
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Lumen (LUMN), Corning Ink Fiber-Optic Cable Supply Agreement
Lumen Technologies, Inc. (LUMN - Free Report) has announced its largest cable purchase deal with Corning Incorporated, aiming to more than double its intercity network miles to advance AI capabilities for cloud data centers, enterprises and public agencies. This agreement secures 10% of Corning's global fiber capacity for Lumen over the next two years.
Lumen, one of North America's largest ultra-low-loss intercity fiber networks, covers diverse routes to more than 50 major cities nationwide. The swift proliferation of generative AI applications now demands at least 10 times more fiber connections within data centers and a strong fiber network to transfer information between these hubs. Corning's fiber-dense cable will support Lumen's development of a new network to interconnect AI-enabled data centers.
Lumen highlighted that this partnership establishes it as a preferred partner and ensures a substantial supply of next-generation fiber both now and in the future. The firm’s use of a multi-conduit system facilitates rapid upgrades and the integration of new fiber technology.
The agreement represents the first-ever “outside-plant deployment” of Corning’s next-gen AI fiber and cable system. This will allow Lumen to fit two to four times more fiber into its existing conduit.
Recently, Microsoft selected Lumen to expand its network capacity and support the development of its next-generation applications for global Microsoft platform customers. Additionally, Lumen will leverage Microsoft’s cloud and AI technologies to boost its enterprise-wide digital transformation.
Lumen, a global communications services provider, offers networking, edge cloud, collaboration and cybersecurity solutions, along with managed services, to enhance business efficiency and create seamless, user-friendly technology environments.
Shares of the Zacks Rank #3 (Hold) company have gained 83.3% in the past year compared with the sub-industry’s growth of 28.9%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Badger Meter, Inc. (BMI - Free Report) , Generac Holdings Inc. (GNRC - Free Report) and Arista Networks, Inc. (ANET - Free Report) . BMI presently sports a Zacks Rank #1 (Strong Buy), whereas GNRC & ANET both carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Badger Meter’s 2024 EPS has increased 4.37% in the past 60 days to $4.06. Its long-term earnings growth rate is 17.9%. Badger Meter’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 12.89%. BMI shares have risen 18.2% in the past year.
The Zacks Consensus Estimate for Arista Network’s 2024 EPS has increased 3.16% in the past 60 days to $8.17. Its long-term earnings growth rate is 16.1%. Arista Networks’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average earnings surprise of 15.02%. Shares of ANET have gained 78% in the past year.
The Zacks Consensus Estimate for Generac Holdings’ 2024 EPS has increased 0.6% in the past 60 days to $6.3. Its long-term earnings growth rate is 12%. Generac Holdings’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, delivering an average surprise of 9.75%. GNRC shares have risen 26.8% in the past year.