Lumen Technologies, Inc.
LUMNQ2 2024(LUMN Q1 FY2024)Estimated0.5% AI
AI Revenue %
0.5%
AI Fair Value
$86.5M
AI Revenue (Q)
$15.3M
Total Revenue (Q)
$3.1B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q1 2024 is when Lumen began positioning for AI networking but the PCF program was not yet announced (that came mid-2024). Total quarterly revenue was $3,290M. The filing references 'artificial intelligence services' in risk factors. The 'Grow' product category includes Dark Fiber and Conduit, IP, Edge Cloud, Optical Services, and other networking products. Current deferred revenue increased from $647M (Dec 2023) to $665M (Mar 2024), and non-current deferred revenue rose from $1,969M to $2,021M — suggesting early custom fiber deal signings. However, no specific AI revenue is disclosed. I conservatively estimate ~$15M (0.5%) may be attributable to early AI-driven dark fiber demand from hyperscalers, based on the deferred revenue increase and general market timing, but this is highly speculative. $15M / $3,290M = 0.46%, rounded to 0.5%.
Analyzed by claude-opus-4-6
Quoted Figures
our ability to successfully adjust to changes in customer demand for our products and services, including increased demand for high-speed data transmission services and artificial intelligence services
10-Q Q1 2024, Forward-Looking Statements
Current portion of deferred revenue 665 647
10-Q Q1 2024, Consolidated Balance Sheet
Deferred revenue 2,021 1,969
10-Q Q1 2024, Consolidated Balance Sheet (non-current)
AI Products Identified (Ring 1)
Dark Fiber and Conduit (partial, AI hyperscaler demand)
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Edge Cloud ServicesManaged Security Services
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix