PresentationGood morning, everyone. I'm Al, your AI assistant for the Lumen Analyst Forum. We're so excited to have you with us today. So let's dive right in. Please join me in welcoming to the stage Lumen's Senior Director, Analyst and Consultant Relations, Claudine Ruscetta.Claudine Ruscetta Hello, and welcome to the 2025 Lumen Analyst Forum. For those I've not met before, I'm Claudine Ruscetta, Senior Director of Analyst Relations here at Lumen. It is so great to see so many of our industry analysts here ...

DENVER--(BUSINESS WIRE)--In its ongoing mission to unleash the world's digital potential, Lumen Technologies (NYSE: LUMN) today shared highlights from its 2025 Industry Analyst Forum, where analysts engaged with the company's leadership team around the Forum's theme – The Trusted Network for AI. Key moments spotlighted the company's comprehensive blueprint for transformation, financial progress, and a preview of new innovations and programs designed to strengthen Lumen's position as a digital n. ...

Key Takeaways Network capacity rose by 5.9 petabits per second in 2025 to meet AI workload demands.400G-enabled routes now link clouds, data centers and metros across 100,000 miles.PCF connects 50 U.S. cities, reaching 97% of business demand with ultra-low latency.Lumen Technologies, Inc. (LUMN) is making major strides in building the backbone for the artificial intelligence (AI)-driven economy, with plans to deploy 34 million new intercity fiber miles by 2028. The company has already delivered millions of ...

以下是对Lumen Technologies 2025年分析师日电话会议纪要的详细分析总结，按关键要点分组呈现： 涉及的行业与公司 * 公司为Lumen Technologies (NYSE: LUMN) 一家电信与科技基础设施公司[1] * 行业为电信、网络基础设施、云计算及人工智能(AI)驱动的数字经济[5][152][156] 核心战略与转型 * 公司正在进行根本性转型从传统电信公司转型为现代化的科技基础设施公司 定位为AI时代可信赖的网络提供商[5][18][46] * 转型战略基于三大支柱：扩展物理网络、数字化平台(云化电信)、构建互联生态系统[50][181][216] * 公司文化转型核心是"敢于取胜(playing to win)" mindset 而非传统电信业的"避免失败(playing not to lose)" 专注于打造增长型公司[13][22][45] * 转型信心源于三大共同点：在正确时间拥有正确资产(优质光纤网络)、具备"弱者(underdog)"心态的团队、以及瞄准了亟待解决的核心客户问题[18][20][25] 财务状况与展望 * 公司已完成重大财务重组 进行了史上最大的庭外债务重组 将200亿美元债务中的近一半到期日成功延后[72][74][75] * 通过出售消费者光纤到户(FTTH)资产给AT&T 债务将从180亿美元降至130亿美元 杠杆率降至4倍以下 利息支出减半[78] * 财务恢复路径明确：先恢复自由现金流健康 再恢复EBITDA增长 最终实现收入增长[15] * 已指导2026年实现EBITDA增长 并明确目标在2028年恢复业务部门收入增长 2029年实现整体Lumen收入增长[15][79] * 资本密集度预计在完成特定网络建设后下降约一半[91] 网络基础设施与建设（物理层） * 公司拥有独特且难以复制的光纤网络资产 包括覆盖范围、独特路由、先进技术和空置管道(conduit) 具有巨大扩展能力[52][86][87] * 正在开展大规模网络建设("The Big Build") 为AI经济构建骨干网 与超大规模云厂商(hyperscalers)合作 需求驱动 非盲目建设[52][98][115] * 建设进展超前：已完成144个ILA(线路放大器) shelters 另有145个在建 已部署3000英里光纤 计划到2026年完成15,000英里 2027年完成27,000英里[119][132][133] * 与康宁(Corning)合作开发并部署新型高纤芯数光缆(864芯、1152芯、1728芯) 大幅提升管道容量[138][139][167] * "Rapid Roots"波分网络建设将在两周内完成 可将客户开通波长服务的时间从数月缩短至数天[122][123][124] 技术创新与数字化平台（数字层） * 核心是"云化电信(cloudifying telecom)" 将网络提升至云时代 提供云经济效应(边际成本下降的规模收入增长)[54][56][154] * 推出革命性产品"Project Berkeley"：一个可虚拟化任何底层接入(铜缆、光纤、无线等)的客户终端设备(CPE) 通过Lumen Connect数字平台控制 成为面向任何地点(on-net & off-net)的"fabric port"[57][193][194] * Fabric Port概念：单一物理端口可承载数千种服务(Lumen一方和第三方服务) 实现服务组合与灵活性[56][190][219] * Lumen Connect是统一数字平台 用于设计、定价、订购、开通和保障服务 提供单一管理界面(single pane of glass)[57][187][225] * 公司愿景是打造一个可编程的互联网(programmable Internet) 客户可按需控制带宽、延迟和冗余性 满足AI工作流需求[180][187][204] 市场机会与增长驱动 * 瞄准一个快速增长、规模约150亿美元的连接性TAM(Total Addressable Market) 涉及云-云、数据中心-云、本地-云等数据快速移动需求[29][38] * AI和多云趋势驱动数据量激增 预计到2030年数据消耗将增长1920倍 对高速、低延迟连接的需求前所未有[110][156][169] * 数据中心建设热潮：从当前2.4亿平方英尺增至2030年的10亿平方英尺 美国现有数据中心入住率达98% 需要大量互联[161][162][170] * 网络成为AI经济的关键投资领域 投资规模将与电力投资相当[156] * 增长将来自战略性产品(几乎占当前收入一半) 尽管传统遗留产品收入仍在衰减[92][93][94] 合作伙伴与生态系统（生态系统层） * 构建"互联生态系统(connected ecosystem)" 与超大规模云厂商(如Google)、数据中心运营商、独立云(neo-clouds)及技术伙伴深度合作[61][181][182] * 推出"Lumen Validated Designs"：将Lumen网络与合作伙伴的云/技术解决方案打包 通过数字市场place销售 显著加速客户获取价值的时间(time-to-consumption)[62][240][241] * 生态系统战略旨在扩展覆盖范围(由技术公司代售)、为客户和合作伙伴创造更多价值 并巩固Lumen作为AI时代关键控制点的地位[63][182][256] 企业文化与团队 * 转型由文化驱动 核心原则是团队、信任、透明度(team, trust, transparency)[22][45][85] * 高管团队具备"弱者(underdog)"心态和激情 共同致力于变革行业[20][21][73] * 新网络建设团队中65%成员来自Lumen外部 吸引了行业顶尖人才[118] 风险与挑战 * 承认转型本身具有高风险 行业中超80%的转型会失败[17] * 面临传统电信行业的遗留问题：收入下降、价格压力、商品化、创新停滞的恶性循环[68][69][70] * 需要持续应对执行风险 并在快速变化的技术环境中保持敏捷和适应性[80] 其他重要信息 * 公司已被《财富》杂志评为美国最具创新力公司之一[37] * 企业客户在选择AI战略时 必须同时具备云战略、数据战略和网络战略[162] * 企业将在AI经济中分为"领导者(leaders)"和"落后者(laggards)" 取决于其采用可编程网络架构进行转型的能力[202] * 所有演示均包含前瞻性陈述 实际结果可能因各种风险和不确定性而存在重大差异[8][9]

1 © 2025 Lumen Technologies. All Rights Reserved. Forward-Looking Statement Today's presentations contain forward-looking statements, which are based on current expectations, assumptions, and projections about future events and business performance and include among other things, statements about our strategy, transformation initiatives, product development, market opportunities, financial outlook and operational plans. These statements are not guarantees of future performance and involve risks and uncertai ...

The turnaround at Lumen Technologies, Inc. (NYSE: LUMN ) continues to gather speed. Since my last update back in March , the stock price has climbed around 27%, not only rewarding patient investors but alsoComing from an IT background, I have dived into the U.S. stock market seven years ago by managing portfolio of my family. Starting managing real money has been challenging for the first time, but long hours of mastering fundamental analysis of public companies paid off and now I feel very confident in my ...

U.S. stocks were mixed, with the Dow Jones index falling more than 100 points on Monday.Shares of PROS Holdings, Inc. PRO rose sharply during Monday's session after the company announced it will be acquired by Thoma Bravo.PROS Holdings shares jumped 40% to $22.97 on Monday.Here are some other big stocks recording gains in today’s session.MBX Biosciences, Inc. MBX shares jumped 144% to $24.40 after the company announced once-weekly Canvuparatide achieved the primary endpoint in a Phase 2 trial.Metsera, Inc. ...

DENVER--(BUSINESS WIRE)--Lumen Technologies (NYSE: LUMN) today announced significant progress in its multi-year effort to build the backbone for the AI economy. With construction underway coast-to-coast, Lumen is moving forward a multi-billion-dollar build with plans to add 34 million new intercity fiber miles by the end of 2028, for a total of 47 million intercity fiber miles. The company has already delivered millions of new fiber miles, network capacity upgrades and high-speed connectivity e. ...

公司业务发展 - 推出Wavelength RapidRoutes波长服务 提供100G和400G企业连接速度 专为AI和云网络架构设计 消除典型的多月等待时间[1] - 提供行业领先的20天交付服务等级协议 从订单完全执行之日起计算[2] - 服务对象包括企业、超大规模供应商、内容提供商、政府机构和其他数据密集型行业[2] 网络基础设施扩张 - 通过预定义路线消除定制工程需求 使网络采购可预测且轻松[3] - 目标在2028年底前将城际光纤网络扩展至超过4700万英里[3] - 积极扩大400G支持范围至10万波长路线英里 新增1.26PB容量 覆盖25个地铁市场的300多个地点[3] 公司背景 - 为美国及国际上的企业和大众客户提供集成产品和服务[4]

Key Points The S&P 500 is getting overheated, but there are still plenty of undervalued plays. Opendoor’s business should stabilize as interest rates decline. Lumen’s big cloud and AI contracts could drive its long-term recovery. 10 stocks we like better than Opendoor Technologies › As the S&P 500 hovers near its all-time highs, it might not seem like the best time to buy new stocks. After all, Warren Buffett warned investors to be "fearful when others are greedy" -- and there's a lot of greed ba ...