Lumen Technologies Sees Nearly 500% Spike In Retail Chatter After Google Partnership

Lumen Technologies, Inc. (LUMN) shares surged 16% on Wednesday, outperforming the broader market, after the telecommunication services company announced a partnership with Alphabet, Inc.’s (GOOGL) (GOOG) Google unit.

The announcement was made in conjunction with the Google Cloud Next 25 conference that kickstarted April 9 at the Mandalay Bay Convention Center in Las Vegas.

Lumen said it was partnering with Google Cloud to deliver “advanced cloud and network solutions that meet the rising demands of enterprise customers” amid rapidly rising artificial intelligence (AI) workload growth across industries.

Under the partnership, Google’s new Cloud WAN would be integrated with Lumen Tech’s connectivity services, helping the latter’s network-as-a-service offerings.

Lumen Tech will also enable direct 400 Gbps direct fiber connections from Google Cloud regions directly to customer locations, allowing it to deliver substantial network capacity.

The company will connect its encrypted network to Google Distributed Cloud air-gapped deployments.

Dave Ward, chief technology and product officer at Lumen Tech, said,  "By combining Lumen's deep fiber footprint and secure networking capabilities with Google's global cloud reach infrastructure, we're giving enterprises the ability to move data faster, more securely, and with the flexibility required to support advanced AI workloads and distributed cloud environments."

Lumen Tech was recently in the spotlight after rumors of a potential sale of its consumer fiber operations to AT&T, Inc. (T) for about $5.5 billion did the rounds.

The Lumen Tech stream on Stocktwits saw a spurt in message volume, with the retail chatter surging by nearly 500% over the 24 hours that ended late Wednesday.

Retail sentiment toward Lumen Tech stock flipped to ‘bullish’ (60/100) by late Wednesday from the ‘bearish’ mood a day ago. The message volume improved to ‘high’ levels.

A retail watcher, who is bullish on the stock, said the stock bounced off the weekly 100-day simple moving average (SMA), which also coincided with a key level.

Another user said the stock has the potential to go to $7 or over $10 in the near term. They also lauded the company’s management team.

Lumen Tech stock has traded in a 52-week range of $0.97-$10.33, and so far this year, it has lost about 30%.

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