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In early December 2025, Lumen Technologies announced the launch of Lumen Defender Managed Rules for AWS Network Firewall and confirmed upcoming leadership changes, with Executive Vice President and Chief Technology and Product Officer David Ward resigning and board member James Fowler stepping into the role in January 2026.
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The combination of a new AI-era cloud security offering powered by Black Lotus Labs and the appointment of a seasoned technology leader positions Lumen to push further into higher-value, security-focused enterprise services.
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We’ll now examine how Lumen’s new AWS-integrated cybersecurity product reshapes its investment narrative around higher-margin, cloud-centric enterprise growth.
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For Lumen, the core belief is that its pivot from shrinking legacy telecom services toward AI-enabled, cloud-centric enterprise networking and security can eventually outweigh ongoing revenue declines and losses. The new AWS-integrated Defender rules strengthen that story on the product side, but they do not materially change the near term financial catalyst, which is still progress on stabilizing revenue and managing the balance sheet, nor do they ease the biggest risk around high debt levels and continued unprofitability.
The launch of Lumen Defender Managed Rules for AWS Network Firewall looks most relevant because it directly connects Black Lotus Labs threat intelligence to a major cloud marketplace, aligning with the catalyst around expanding Network as a Service and digital platform adoption. Getting Lumen’s security stack closer to where enterprises already run workloads, such as AWS, could help support utilization of its network and security services, which is central to the investment case.
Yet against this push into AI era security, investors should also be aware of how Lumen’s large debt load and ongoing losses could…
Read the full narrative on Lumen Technologies (it’s free!)
Lumen Technologies’ narrative projects $11.8 billion revenue and $1.5 billion earnings by 2028.
Uncover how Lumen Technologies’ forecasts yield a $7.23 fair value, a 12% downside to its current price.
Ten fair value estimates from the Simply Wall St Community span about US$2 to US$14.50 per share, highlighting very different views on Lumen’s upside. As you weigh those perspectives, remember that continued double digit declines in legacy revenue and the company’s ongoing unprofitability may have a significant bearing on how the turnaround story ultimately plays out.