AIFortuneabout 1 hour ago
Lumen to Mine Copper for $1.5 Billion
4 min read
Lumen Technologies plans to decommission 25% of its copper network by the end of next year, expecting up to $1.5 billion in pretax net proceeds from mining. CEO Kate Johnson and CFO Chris Stansbury drive this pivot to AI connectivity, citing better cash generation than operating legacy services. The move frees resources for higher-return investments while maintaining service obligations.
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