We recently published
10 of Wall Street’s Outperformers. Lumen Technologies Inc. (NYSE:LUMN) is one of the top-performing stocks last week.
Lumen Technologies jumped by 17.25 percent week-on-week, as investors gobbled up shares after bagging a multi-million-dollar partnership with Palantir Technologies Inc.
Bulk of the rally was observed on Friday, with the company hitting an 11-month high after breaking past the $8 territory—a level it last touched in November last year.
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In a joint statement on Friday, Lumen Technologies Inc. (NYSE:LUMN) said that it would join forces with Palantir to integrate Lumen Connectivity Fabric—a next-generation digital networking solution—into the latter’s Foundry and Artificial Intelligence Platform (AIP).
The partnership was aimed at supporting enterprises with their AI adoption by allowing them to move and manage data securely and quickly across multi-cloud and hybrid environments, and enhancing AI applications with reduced latency and cost, while simplifying IT complexity, among others.
“Palantir frees data, while Lumen moves it. Together, we’re uniquely positioned to enable enterprises to unlock their AI ambitions with unprecedented scale and speed,” said Lumen Technologies Inc. (NYSE:LUMN) CEO Kate Johnson.
“We share the same disruptive DNA—reimagining the foundations of our industries to help others do the same. By bringing AI into real-world operations through a connected ecosystem, we’re empowering businesses to reinvent how they operate, compete, and grow,” she added.
While we acknowledge the potential of LUMN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the
best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at
Insider Monkey.
