Lumen shows what happens when an AI connectivity company signs hefty contracts!
They have about 25 times more shares to feed, so their $5B in sales would equate to about $200mm for poet.
https://www.marketwatch.com/story/lumen-technologies-shares-soar-on-ai-demand-increased-cash-flow-e0fe09c3?mod=mw_quote_news
Shares of Lumen Technologies surged after the company upped its free cash flow projection and said its future earnings will benefit from its ability to support artificial intelligence initiatives.
After the bell, the stock rose 35% to $6.78. Shares ended Tuesday's regular session up 93% to $5, putting them up over 300% in the last month.
The stock has been trending upward since the telecommunications company in July announced a strategic partnership to use the Microsoft Cloud to expand its network capacity. The gain marks a turnaround for Lumen, which early this year found itself grappling with $20 billion in debt and reached deals with creditors to push out debt maturities.
Lumen on Tuesday raised its free cash flow outlook to between $1 billion and $1.2 billion from a prior projection between $100 million and $300 million. This came after the company on Monday said it had secured $5 billion in new business and is in active discussions with customers to secure another $7 billion in sales opportunities.
