Nokia Bulls Delight as Nvidia Deal Fuels Europe’s Latest AI Play
Deeper ties with Nvidia could bring Nokia’s optical network offerings closer to hyperscalers like Microsoft Corp.
Photographer: Angel Garcia/BloombergThis week’s big rally in Nokia Oyj shares underscores how the 5G equipment maker and once-iconic phone brand is now emerging as a major European artificial intelligence play.
The stock is poised for its steepest weekly gain since January 2024, capping its best month since 2013, after Nvidia Corp. agreed to take a $1 billion equity stake in the Finnish company. Nvidia’s chips will also be used to accelerate Nokia’s software for the current 5G and next-generation 6G networks.