Lumen Technologies rose more than 10% in pre-market trading, reaching a cooperation agreement with Microsoft
Lumen Technologies announced a strategic partnership agreement with Microsoft to support digital transformation and artificial intelligence initiatives. Lumen will migrate to Microsoft's Azure cloud platform and collaborate with Microsoft to create telecommunications industry solutions. This move is expected to increase Lumen's cash flow by $20 million and enhance customer experience. Microsoft has chosen Lumen as its strategic supplier for network infrastructure needs. Lumen's private connectivity architecture will support the growing demand for artificial intelligence in its data centers. Lumen's stock price surged 10.74% in pre-market trading
According to the information from Zhitong Finance, Lumen Technologies (LUMN.US) has announced a strategic partnership agreement with Microsoft (MSFT.US) to support its organization's digital transformation and drive its artificial intelligence initiatives. Following the announcement, as of the time of publication, Lumen's stock price surged by 10.74% in pre-market trading.
Lumen has initiated a company-wide transformation to simplify and optimize its operations. As part of the partnership, the telecommunications company will migrate its workloads to Microsoft's Azure cloud platform, utilize Microsoft's Entra solution for access protection and identity attack prevention, and collaborate with Microsoft to create and deliver new telecommunications industry-specific solutions. It is expected that this element alone will increase Lumen's cash flow by over $20 million in the next 12 months, while also enhancing the company's customer experience.
Furthermore, Microsoft has selected Lumen as its strategic supplier for network infrastructure needs. Lumen's private connection architecture will enable the tech company to expand its network capacity to support the growing demand for artificial intelligence in its data centers