Nokia Shares Soar on Nvidia Deal

Anadolu Agency

Nokia announced on Tuesday that chipmaker Nvidia will acquire a $1 billion stake in the company.

The Finnish firm said it will issue more than 166 million new shares, with the proceeds earmarked to support its artificial intelligence initiatives and other corporate purposes.

The two companies have also agreed on a strategic partnership to jointly develop next-generation 6G technology. They will collaborate on AI networking solutions and explore opportunities to integrate Nokia’s data centre switching and optical technologies into Nvidia’s future AI infrastructure.

The announcement comes ahead of Nvidia CEO Jensen Huang’s keynote at the company’s developer conference in Washington, DC, where he is expected to discuss joint projects and future plans with Nokia.

In recent months, Nvidia has acquired stakes in several strategic partners as it cements its position at the forefront of the AI industry. Following the announcement, Nokia’s shares rose by as much as 26%.

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