Lumen Technologies, Inc. (NYSE:LUMN) shares are trading higher Monday after the company announced it is moving forward a multi-billion dollar build, with plans to add 34 million new intercity fiber miles by the end of 2028.
What To Know: Lumen said the expansion will bring its total intercity fiber network to 47 million miles. The company has already deployed more than 2.2 million new fiber miles this year and expects to reach 16.6 million by year end.
Lumen also earmarked over $100 million to expand 400Gbps connectivity across clouds, data centers and metros with its 400G-enabled network now spanning more than 100,000 route miles.
The company highlighted its Private Connectivity Fabric which offers 25% less optical loss than legacy fiber and 60% more capacity than traditional designs, helping enterprises manage AI workloads at scale with latency under five milliseconds.
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LUMN Price Action: At the time of writing, Lumen shares are trading 11.82% higher at $6.38, according to data from Benzinga Pro.
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