Apollo's Aspen Insurance raises $397.5 million in US IPO
(Reuters) - Aspen Insurance priced its New York initial public offering within its marketed range on Wednesday, raising $397.5 million for the Bermuda-based specialty insurer.
(Reporting by Chandni Shah in Bengaluru; Editing by Alan Barona)
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US Telecoms Face Capex Decline Amid Economic Challenges: A Review of Key Operators Including AT&T, Verizon, Charter, Comcast, T-Mobile (DT), Lumen, Frontier, and More
The brief analyzes the US telecom capital expenditure trends, using data from key operators like AT&T and Verizon. In 2024, US telco capex was $80.5 billion, but with concerns over inflation and recession, spending is expected to decline. Telcos are leveraging AI for operational efficiency, amid economic and policy uncertainties. Dublin, June 10, 2025 (GLOBE NEWSWIRE) -- The "US Telco Capex Fading as AI Giants Take Center Stage" report has been added to offering. This brief examines the near-term outlook for telecom capital expenditures (capex) in the US, based on the 1Q25 earnings of key operators, including AT&T, Verizon, Charter, Comcast, T-Mobile (DT), Lumen, Frontier, and more. It analyzes how current spending patterns compare with previous forecasts, highlights the main forces shaping investment decisions, explores implications for vendors, and discusses trends in emerging areas such as AI, large language models (LLMs), and data centers. The US market closed 2024 with $80.5 billion in telco capex and $505.2 billion in revenues, representing 27% and 28% of global industry totals, respectively. The USA's capex to revenue ratio, or capital intensity, was in the 17-18% range in 2022-23. That was well above historic levels. The ratio started to moderate in 2024. For full-year 2024, capital intensity was 15.9%. Based upon 1Q25 earnings calls and other datapoints, that will fall further. US telcos are looking to monetize recent investments, and more focused on conserving capital and cutting costs. Economic and policy uncertainty continues to be high, with inflation and recession fears stemming from the presidentially contrived trade emergency. As telcos conserve capex, they must see irony in the massive investment bubble in the data center market. Telcos are struggling to attract the same investor interest. However, telcos are finding other ways to benefit from AI in the US. They aren't positioned well to ride the GenAI wave, but they are deploying AI-based technologies to deliver operational efficiency. For instance: AT&T: using AI to improve call center automation, software development, and digital acquisition. The company says that investment in automation is helping offset labor costs and drive self-service efficiency across sales and support channels. Verizon: integrating AI into customer care and network ops; use cases include predictive maintenance, customer service automation, and internal process efficiencies. Comcast: AI is deployed across billing automation, network troubleshooting, and customer service, reducing truck rolls and call center loads. Machine learning models are used to predict customer churn and drive targeted promotions. Charter: has invested in AI for years, focused on frontline efficiency and self-service; it is reducing repair calls and truck rolls. Internal tools are used to optimize operations, enhance agent support, and reduce OPEX. DT/T-Mobile: AI is integral to DT's digital transformation, aiming at €800 million in group cost savings by 2027. AI is used to optimize fiber rollouts, automate customer service (e.g., chatbots solving 50% of issues without humans), and remotely manage 75% of routers. DT says that AI supports operations across service, coding, sales, and mobile RAN monitoring. Lumen: Lumen is positioning itself as a backbone provider for the AI economy. Lumen Digital platform uses AI for automation and real-time network control. Over the next few quarters, US telcos will remain tightly constrained on capex. Weaker economic growth will hit revenues. Rising government debt and tariffs will cause inflation to spike. Fewer international visitors to the US, less foreign investment, both lead to weaker demand. Tariffs may also cause shortages or high costs in certain component parts used in building networks. Labor costs will rise, as the surge in investment from an adjacent sector (data centers) will make it harder for telcos to keep their staff. But telcos have been wrestling with such issues for years, and they will survive this as well. Key Topics Covered: Summary Market Background - USA 1Q25 results AT&T Verizon Comcast Charter Communications T-Mobile (DT) Frontier Communications Lumen Technologies (ex-CenturyLink) Dish Network (EchoStar) List of Figures Capex forecast for US telco market and recent changes Major capex spenders in US telco, CY24 versus 4Q24 ($M and % total) Summary of US telcos' 2025 capex focus & forecast AT&T's total corporate capex, capital intensity, and share of global capex Verizon's total corporate capex, capital intensity, and share of global capex Comcast's total corporate capex, capital intensity, and share of global capex Charter Communications' total corporate capex, capital intensity, and share of global capex T-Mobile total corporate capex, capital intensity, and share of global capex Frontier capex, capital intensity, and share of global capex Lumen capex, capital intensity, and share of global capex Dish Network capex, capital intensity, and share of global capex For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
