2024-09-11 11:41:13.AIbase.11.7k
Lumen Technology's AI Transformation Journey: Betting on Artificial Intelligence to Turn Around the Debt Crisis
Lumen Technologies is attempting to improve its financial situation by diversifying its business and restructuring its $20 billion debt through AI-related contracts. CFO Chris Stansbury acknowledges severe debt structure issues and has negotiated with creditors to obtain new credit lines and defer billions in maturing debt. The company focuses on AI connectivity services, recently securing a $5 billion contract with an additional $7 billion in po....
