Lumen Technologies, Inc.
LUMNQ4 2024(LUMN Q3 FY2024)Estimated1.5% AI
AI Revenue %
1.5%
AI Fair Value
$267.1M
AI Revenue (Q)
$153.5M
Total Revenue (Q)
$10.2B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 2024 is when the PCF branding appears explicitly in Lumen filings for the first time ('Private Connectivity Fabric SM and Quantum Fiber initiatives'). Total quarterly revenue was $3,221M. The filing discusses the ability to 'monetize our network related assets through leases, commercial service arrangements or similar transactions (including as part of our Private Connectivity Fabric SM solutions).' However, still no specific AI revenue dollar figure is disclosed. Lumen's publicly announced $5B+ in AI-driven sales pipeline suggests significant future revenue, but the long-term nature of these deals (10-20 year IRUs) means recognized revenue per quarter remains modest. I estimate approximately $48M in Q3 2024 from AI-driven dark fiber, conduit, and early PCF revenue recognition. $48M / $3,221M = 1.49%, rounded to 1.5%.
Analyzed by claude-opus-4-6
Quoted Figures
Private Connectivity Fabric SM and Quantum Fiber initiatives
10-Q Q3 2024, Forward-Looking Statements
our ability to successfully and timely monetize our network related assets through leases, commercial service arrangements or similar transactions (including as part of our Private Connectivity Fabric SM solutions)
10-Q Q3 2024, Forward-Looking Statements (risk factors)
OPERATING REVENUE $ 3,221 3,641 9,779 11,040
10-Q Q3 2024, Consolidated Statement of Operations
AI Products Identified (Ring 1)
Private Connectivity Fabric (custom AI data center fiber networks)Dark Fiber and Conduit (AI hyperscaler builds)
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 ServicesIP services (AI workload traffic)Optical Services
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix