Lumen and Meta Partner to Supercharge AI Capabilities
In a significant move, Lumen Technologies, Inc. (NYSE:LUMN) has teamed up with Meta Platforms, Inc. (NASDAQ:META) to substantially increase Meta’s network capacity and drive its AI ambitions forward. This strategic partnership is expected to provide Meta with the flexibility and secure, on-demand bandwidth it needs to support its complex computing requirements.
Unlocking Seamless Network Solutions
According to Ashley Haynes-Gaspar, Lumen’s EVP and chief revenue officer, “We’ve transformed our company to meet this demand.” As Meta’s customers increasingly utilize AI services across its platforms, Lumen is helping provide a seamless, effortless, and flexible network that will meet Meta’s growing needs. Lumen’s Private Connectivity Fabric is designed to enable long-term network capacity for Meta’s AI, ensuring that the company can continue to innovate and expand its AI capabilities.
The Power of AI: Enabling New Experiences
Meta’s AI tools are performing increasingly complex tasks, including enabling conversations in multiple languages, translating text to images in real-time, and helping people interact with the world around them in new, immersive ways. As Alex-Handrah Aimé, director of Meta’s Network Investments, notes, “Our AI tools are becoming increasingly sophisticated, and we need a network that can keep pace.”
What’s Next for Lumen?
Lumen is set to report its third-quarter 2024 results on November 5, 2024. Investors interested in gaining exposure to the stock can do so via Invesco S&P SmallCap Utilities & Communication Services ETF (NASDAQ:PSCU) and First Trust Cloud Computing ETF (NASDAQ:SKYY). As of Monday, LUMN shares were trading up 9.50% at $7.38.
A Promising Partnership
The partnership between Lumen and Meta marks an exciting development in the world of AI and network solutions. With Lumen’s expertise in providing secure, on-demand bandwidth and Meta’s commitment to innovation, this collaboration is poised to drive significant advancements in AI capabilities. As the demand for AI services continues to grow, this partnership is well-positioned to meet the needs of an increasingly complex and interconnected world.
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