Oct 30 (Reuters) - Lumen Technologies ( LUMN ) edged

past third-quarter revenue estimate and posted a

smaller-than-expected loss on Thursday, driven by demand for its

network infrastructure to support massive data flows and

computational workloads amid an AI boom.

The telecom and networking firm continues to have an

opportunity to expand its share of business revenue, as

hyperscalers and enterprise customers ramp up bandwidth demand

to support growing AI applications and modernize their core

connectivity infrastructure.

Lumen reported third-quarter revenue of $3.09 billion,

compared with analysts' average estimate of $3.04 billion,

according to data compiled by LSEG.

The company said it has signed new deals worth $1 billion in

October for its private connectivity fabric (PCF) solutions,

designed for AI workloads, bringing the total value to more than

$10 billion.

The October deal is largely with one client, Chief Financial

Officer Chris Stansbury told Reuters in an interview, without

naming the customer. There are nearly 15 to 16 customers that

add up to the total value, with Lumen seeing more pathways to

demand for the PCF product.

In May, the company had agreed to sell its consumer fiber

business to AT&T ( T ) for $5.75 billion to sharpen its

enterprise focus and reduce capital expenditure. The deal is

expected to close in early 2026.

When the deal closes, Lumen's leverage will be below four

times and it will continue to reduce debt, Stansbury said.

"We're not in a position where we have to sell things

anymore," Stansbury said. "Our debt is no longer a headwind."

Earlier this month, Lumen and data analytics firm Palantir ( PLTR )

announced a multi-year partnership aimed at helping

businesses deploy AI more quickly and securely. Lumen has also

unveiled a series of collaborations with tech firms focused on

AI and cybersecurity.

Lumen posted an adjusted loss of 20 cents per share during

the third quarter, compared with analysts' estimate of a 27-cent

loss. It also reiterated its fiscal 2025 forecast.