Nokia Corp ADR

Inseego Corp. announced the completion of its acquisition of Nokia's Fixed Wireless Access business, a deal first announced on April 30, 2026. The transaction is expected to approximately double Inseego's revenue and position the company as a global wireless broadband leader, adding indoor, outdoor and millimeter-wave FWA solutions and extending its footprint to carriers across Europe, the Middle East, Asia, Oceania, and the Americas. Under the terms of the acquisition and Nokia's $10 million cash investment in Inseego, also completed today, Nokia received approximately 1.9 million shares of Inseego common stock, representing an approximately 11% ownership interest, plus warrants to purchase up to approximately 0.8 million shares at an exercise price of $4.26 per share. Nokia will also provide a $10 million cash payment to Inseego by October 15, 2026 to support engineering investment in interoperability between Inseego's device OS and cloud platform and certain Nokia technology ecosystems. Approximately 250 people associated with the acquired business will support Inseego's expanded operations, and Inseego has established an international headquarters in Amsterdam and a development center in Athens while expanding its presence in Bangalore.

ICEYE and Nokia announced a partnership to develop secure, sovereign and high-performance broadband low Earth orbit satellite communications systems for governments, supporting missions from defense and border security to emergency services and disaster response. Built on trusted European technology, the jointly developed systems will give nations ownership and control of the satellites, ground segment and terminals, with the first communications satellites expected to be launched in 2028. The systems will deliver targeted, high-throughput, low-latency connectivity over priority mission areas, designed to complement military and commercial networks rather than replace them. The partnership combines ICEYE's track record delivering sovereign satellite missions with Nokia's experience in secure networking technologies and growing defense portfolio, integrating satellites, ground infrastructure and ruggedized end-user terminals. ICEYE CEO and Co-founder Rafal Modrzewski said nations must be able to fully own and control their communications without dependency on a foreign commercial operator's terms of service, while Nokia President and CEO Justin Hotard said sovereign operations depend on secure, resilient connectivity across land, sea, air and space. Modrzewski and Hotard will take the stage at the Helsinki Security Forum on October 2 for a session titled "How to Salvage Europe's Technological Sovereignty."

Nokia Oyj is extending its partnership with Microsoft Corporation to build an agentic, unified data foundation that combines Nokia Data Suite with Microsoft Fabric to enable AI-driven telecommunications network operations. The collaboration integrates network data products with Microsoft's cloud analytics and AI capabilities, allowing operators to access structured network data in minutes rather than weeks, and the solution is currently available, building on existing agreements across cloud infrastructure, security, and AI workloads. For Nokia, the integration accelerates monetization within its AI & Cloud segment, where order intake reached €2.8 billion in Q2 2026 and net sales to AI & Cloud customers surged 105% year-over-year, supported by €2.78 billion in net cash. For Microsoft, the move strengthens Azure's enterprise ecosystem, supporting Azure's 43% revenue growth in Q4 FY26 and expanding Microsoft Cloud revenue beyond its $59.3 billion quarterly base. Nokia's reported operating margin fell to (1.0)% in Q2 2026 on accelerated restructuring expenses, while Microsoft's FY26 total revenue reached $331.8 billion amid heavy AI infrastructure spending.

B. Riley initiated coverage of Nokia Oyj on September 17 with a Buy rating and a $15 price target, citing the company's position in telecom infrastructure, cloud software, and hardware networking. The firm highlighted strong growth in Nokia's networking businesses, with Optical Networks revenue up 20% year-over-year and IP Networks up 16% in the second quarter of 2026, while net sales to AI and cloud customers surged 105%. Nokia reported EUR 2.8 billion in AI and cloud order intake during the quarter, which B. Riley said provides revenue visibility into 2027, and the firm noted the carrier inventory correction cycle that had weighed on global capital expenditures has now concluded. The $15 target was derived using a sum-of-the-parts valuation that separates the legacy assets from the data center business, applying a premium hardware multiple to the data center segment. Profitability remains a concern, however, as Nokia posted a EUR 50 million operating loss in the second quarter of 2026 compared with a EUR 147 million operating profit a year earlier, with the reported operating margin falling to negative 1% from 3.3%, which the company attributed to an accelerated pace of restructuring. Free cash flow was negative EUR 732 million in the quarter, and Nokia said it now expects total related restructuring charges of EUR 800 million in 2026. Hedge fund interest improved, with 81 funds holding the stock at the end of the second quarter, up from 66 in the first quarter, while short interest stood at 1.04% of shares outstanding as of August 31. Of the 31 analysts covering Nokia, 61% rate the stock a Buy, with a median 12-month price target of $13.33, representing 24.84% potential upside from the stock's price as of September 18.

Nokia Oyj expanded its partnership with Microsoft to transform telecom automation using unified, AI-driven data operations. The collaboration connects Nokia Data Suite directly with Microsoft Fabric to streamline network data access for global telecom operators. The combined platform is designed to shorten network data retrieval times and support multi-vendor AI use cases such as autonomous assurance and predictive maintenance. The €52.4 billion communications group runs mobile, fixed, and cloud network infrastructure across regions where operators are pushing into AI-driven automation. The clearest proof point to watch is how management attributes AI-driven software and automation bookings in upcoming quarterly updates through 2027, especially any quantified contribution from Microsoft Fabric-based deployments versus traditional network contracts.

Jim Cramer recommended buying Nokia during the Lightning Round of CNBC's "Mad Money" on Sept. 16, calling it "a terrific situation" and saying "I would be a buyer right here." Nokia shares closed at $10.60 on Sept. 17, up about 62% year to date and more than 130% over the past 12 months, though the stock still trades far below its peak of around $29. Cramer's call rested on valuation: Nokia trades at approximately 22 times forward earnings, unusual in a market where AI-linked stocks usually see more than 30 times, and he contrasted it with BWX Technologies, which he passed on because its "price-to-earnings multiple at 30 times is too high." The endorsement came a day before Nokia disclosed on Sept. 17 an expanded partnership with Microsoft that integrates its Nokia Data Suite with Microsoft Fabric, a joint solution the companies say cuts the weeks telecom operators normally need to prepare network data for AI applications down to minutes; shares rose around 3.8% on the news. In the second quarter, Nokia's revenue from artificial intelligence and cloud customers more than doubled year over year to approximately $509 million, order intake in that category reached 2.8 billion euros, roughly $3.2 billion at current exchange rates, and comparable operating profit rose 18% to 434 million euros, though reported net income fell to just 5 million euros and free cash flow dropped into a deficit of 732 million euros, or approximately $835 million, largely on 445 million euros of restructuring costs. Under CEO Justin Hotard, who took over in April 2025 after running Intel's data center division, Nokia has repositioned itself as one of the few Western vendors selling core equipment for AI data centers, supplying optical networking gear, IP routers, and fiber infrastructure to hyperscalers such as Microsoft and Google.

Scailarc, Nokia and Elisa have completed a proof-of-concept demo of a first-of-its-kind mobile calling experience that lets a customer complete a call-related action without answering the call, using IMS Data Channel technology and trusted caller verification enabled through Nokia's Network as Code platform, with the call made on the new Jolla Phone. In the Elisa customer service scenario, Elisa calls about a fibre installation; the customer cannot speak but sees a trusted interactive call screen and selects "Book installation time", Elisa sees the customer move to self-service, and the customer completes the task immediately without answering. Created by Scailarc with support from Nokia and Elisa, the solution brings rich, interactive content into the native phone experience without requiring a separate app, extending the phone call from a voice connection into a trusted media channel before, during and after the call. The solution is based on IMS Data Channel, a 3GPP standard for rich data interactions inside a normal phone call, and works independently of device model or mobile OS ecosystem, with IMS Data Channel interfaces running inside an isolated environment in the phone's native calling app, encrypted data, and Scailarc verifying application content and digital fingerprints to help prevent hijacking. Marko Rapeli, Co-founder and CEO of Scailarc, said the proof of concept shows how the traditional phone call can become a trusted, interactive customer service channel, while Laura Pitkänen, Vice President, Subscriptions and Services, Corporate Customers at Elisa, said Elisa is exploring innovations that make digital services easier and safer, and Shkumbin Hamiti, Vice President, Network Monetization Platform at Nokia, said programmable network capabilities can help developers and service providers create new real-time experiences. The companies see potential for trusted, interactive calling in sectors where identification, timely action and customer confidence are critical, including healthcare, banking, public services, logistics, public safety and legally required customer contacts.

Nokia stock rose 6% to $10.39 after the company said its AI-RAN platform is moving from evaluation into live field trials with eight global operators across North America, Europe, Asia-Pacific and the Middle East. The named operators advancing proofs of concept and trials include A1 Group, du, e&, Mobily, stc and TPG Telecom. The platform pairs Nokia's AI-native anyRAN software with NVIDIA's Aerial RAN Computer and has already delivered spectral efficiency improvements of more than 20%, letting operators draw more capacity from spectrum they already hold. The move was Nokia-specific: Ericsson rose 0.7% to $10.11 and NVIDIA rose 0.9% to $214.04, while the iShares U.S. Technology ETF was unchanged at $250.08 and the SPDR S&P 500 ETF Trust gained 0.4% to $760.33. Separately, Nokia said Nokia Defense signed a memorandum of understanding with UK systems engineering and security services company C3IA to support digital transformation across UK defense operations, with both companies participating in the UK Ministry of Defence's TacSys framework.

Nokia Defense and C3IA announced at the 2026 DVD (Defence Vehicle Dynamics) event the signing of a memorandum of understanding to strengthen collaboration and support the digital transformation of UK Defense. The partnership combines Nokia's advanced connectivity expertise with C3IA's systems engineering, capability integration and security services to deliver resilient communications, secure information sharing and network interoperability across land, air, maritime, cyber and space domains. Under the agreement, the two companies will co-develop solutions spanning tactical and operational communications, private 4G and 5G, situational awareness, command and control, sensing, autonomous systems and edge computing. The collaboration builds on Nokia Defense and C3IA's participation in the UK Ministry of Defence Tactical Communication Systems framework, where they hold positions in Lot 1 (Services) and Lot 3 (Components) under framework RM6393, giving the MOD and other public sector organizations access to Nokia's full connectivity portfolio from headquarters to the tactical edge. Mikko Viitaniemi, Vice President and Head of Nokia Defense, said the collaboration combines mission-critical connectivity with defense systems engineering to advance tactical communications and interoperability across future UK defense programs, while C3IA Managing Director Steve Brown said the partnership enables rapid deployment of capabilities that can deliver real operational value on the battlefield.

Nokia Oyj is linked to Nscale's plan to raise about $3.5 billion in pre-IPO funding for AI infrastructure, a round expected to test Nokia's role as a supplier of AI infrastructure hardware and related services. Nokia is also a direct investor in Nscale, so the funding outcome could influence future AI infrastructure partnership terms. The planned raise effectively stress tests a key part of the Nokia narrative, which leans on AI and cloud orders in optical and IP networks as a catalyst for future earnings and margin expansion. The clearest marker to track is how management attributes any future AI-related optical and networking orders in its updates through 2027, and whether it explicitly links deal visibility or backlog to Nscale and similar AI infrastructure partners. Nokia sells mobile, fixed, and cloud network solutions across regions from North and Latin America to Asia and the Middle East, putting its AI infrastructure work with Nscale inside its broader communications hardware and services footprint.

Nokia Oyj is supplying 800G coherent pluggable optics to Telxius as the company upgrades the international terrestrial transport networks connecting its subsea cables, while ESpanix in Spain is deploying Nokia Deepfield Defender to power a new DDoS protection service for internet exchange customers. The two deployments are separate pieces of Nokia's broader telecom and security business rather than a single combined contract. Telxius plans to use Nokia optical technology to scale bandwidth and capacity on routes supporting its global subsea infrastructure. Nokia's profit margin stands at 3.4%, down from 5% a year earlier, leaving investors watching whether heavier AI and security workloads convert into higher quality earnings. The key marker over the next 12 to 24 months is the number of clearly disclosed commercial deals citing these 800G and Deepfield deployments as live, scaled services across Europe, the United States and Latin America.

Nokia has expanded its network security business in Spain by deploying its Deepfield Defender solution across the Madrid and Barcelona platforms of ESpanix, the country's largest Internet exchange point. The deployment extends Nokia's distributed denial-of-service protection technology to more than 200 national and international networks connected to ESpanix. Nokia's technology combines AI-powered network analytics with its Deepfield Secure Genome security intelligence to detect and mitigate DDoS attacks within seconds, delivering protection directly within network infrastructure so ESpanix can mitigate attacks without redirecting traffic to external scrubbing centers, keeping Spanish Internet traffic and security operations within the country. The move expands Nokia's existing relationship with ESpanix and demonstrates the scalability of its Deepfield portfolio across multiple networks through a single Internet exchange platform. Nokia faces competition from Ericsson, which is incorporating Zero Trust principles and AI-driven security into 5G and next-generation network operations, and from Cisco Systems, which is expanding its AI-powered cybersecurity portfolio across networks, cloud environments and applications.

Telxius and Nokia are collaborating to deploy 800G coherent pluggable optics across Telxius' terrestrial transport networks in Europe, the United States and Latin America. The deployment uses Nokia's ICE-X 800G ZR/ZR+ coherent pluggable technology with IP-over-DWDM networking to add capacity on Telxius' existing terrestrial infrastructure while reducing the power and space required for expansion. It also employs Nokia network automation, giving Telxius full visibility, fault and performance monitoring, and coordinated service provisioning across its optical transport network. The initiative builds on a recent industry-record demonstration of Nokia ICE-X 800G ZR+ coherent pluggable optics over the BRUSA subsea cable system, which delivered 400Gb/s per wavelength across more than 5,600 km. Jesús María Rubio, Chief Technology and Information Officer at Telxius, said the deployment and the BRUSA trial reinforce the company's position at the forefront of optical innovation, while Nokia's Ron Johnson, Senior Vice President and General Manager of Optical Networks, said the technology gives Telxius a high-performance foundation for data center interconnection and seamless connectivity between terrestrial and subsea networks.

Verizon announced the expansion of its 6G Innovation Forum with nine new members and reported successful pre-standard field trials of Integrated Sensing and Communication and an AI Sports Companion prototype. Amazon Web Services, Cisco, Intel, Keysight Technologies, MediaTek, NVIDIA, Palo Alto Networks, Rohde & Schwarz and VIAVI Solutions have officially joined the forum, which was launched last year and already includes founding members Ericsson, Samsung, Nokia, Meta and Qualcomm Technologies. In one trial staged at a major international soccer celebration in Dallas, Texas, Verizon and Samsung used a single 5G base station and 40MHz of CBRS spectrum to track radio variations from six Samsung Galaxy smartphones, with Samsung's AI RAN and edge AI platform Network in a Server generating real-time crowd-density heatmaps on commercial phones and a tablet. In a second trial at Qualcomm's San Diego campus, the companies used 100 to 400MHz of millimeter-wave spectrum and four synchronized Transmission and Reception Points to track an airborne drone and moving ground vehicles while maintaining uninterrupted 5G Standalone communications to a phone user on the ground. Verizon also showcased a prototype AI Sports Companion application running on the Verizon Edge Network with Meta AI glasses, a locally optimized Small Language Model, an NVIDIA DGX Spark and statistics from SportsDataIO, letting users ask verbally for real-time player statistics, live score interpretations and game-winning probabilities. Verizon said forum members will continue sharing learnings from future demonstrations involving ISAC, digital twins, robotics, AI and advanced wearables, and it views the 2028 Summer Olympics in Los Angeles as the ultimate interim proving ground on the road to commercial 6G deployment, supported by its dedicated 6G Lab already established in the host city.

Nokia has launched Cognitive Operations, a new commercially available platform that unifies mission-critical communications, accelerated edge computing and operational AI in a single field-deployable system, initially targeting the mining, public safety and defense markets. The platform gives operational teams real-time site and asset intelligence through AI-agentic assistance, a live 3D digital twin of operations, real-time video analytics, predictive maintenance and autonomous safety monitoring, and it can be deployed on-premises or hosted on the Microsoft Azure Marketplace. At the edge of the platform sits Nokia's Cognitive Edge Node, a rugged network and edge compute platform with embedded on-device GPU-accelerated computing that brings intelligence to field-deployed vehicles and remote locations; Nokia collaborated with Rajant to integrate its InstaMesh technology directly into the Cognitive Edge Node. Cognitive Operations launches with three vertical applications: CO for mining, its flagship product for the mining industry, available on-premises and on-cloud through the Microsoft Azure Marketplace; CO for emergency services, which introduces the Vehicle as a Node concept so that police cars, fire trucks and ambulances self-organize into a distributed field intelligence network; and CO for defense, which extends the platform to the battlefield edge for sensor fusion, video analytics and threat detection across 5G, tactical radio and satellite. Lelio Di Martino, General Manager of Cognitive Operations for Nokia, said the launch extends AI directly into the field, and Ildefonso de la Cruz Morales, Senior Principal Analyst at Omdia, said the convergence of AI, edge computing and mission-critical communications is becoming a key requirement for organizations seeking to improve operational performance and worker safety.

Alphabet, Google's parent company, plans to invest at least 13 billion in Finland within two years, marking its largest European commitment. The project includes building at least three data centers in Kajaani, Muhos, and Vaala, and expanding its Hamina facility. Finland's cold climate reduces cooling needs, and its carbon-free electricity supports cleaner computing expansion. The investment could support more than 37,000 Finnish jobs during construction and about 7,000 once operational. Google Chief Investment Officer Ruth Porat said the company is proud to deepen its roots in Finland with its largest single investment in Europe. The scale aligns with Alphabet's broader spending acceleration, as it raised its 2026 capital-expenditure forecast to as much as $205 billion. Energy arrangements include a new wind-power agreement, a 94-megawatt battery-storage system at Kajaani, and a 22-year power-purchase agreement with Finnish utility Fortum covering 2030 through 2049, which will represent 50% of the capacity from Fortum's two-reactor Loviisa plant. Elisa and Nokia will provide telecommunications and network infrastructure.

Nokia has announced Mobile Core Early Access, a live hosted environment available globally to telecommunication providers and enterprises, designed to help operators evaluate and adopt advanced mobile core capabilities in the AI era. The initiative aims to shorten the path from technology awareness to deployment by allowing participants to explore new capabilities in a practical, end-to-end setting that includes radios and devices. Launched in June with a select group of 30 companies, registration is now open to the entire industry, making it the first program of its kind. Kal De, Senior Vice President of Core Networks at Nokia, emphasized that the program reduces uncertainty and accelerates innovation cycles, while Omdia analyst Roberto Kompany noted it addresses a longstanding challenge of gaining practical exposure before deployment decisions. A paid option is available for participants needing extended access or deeper integration.

Nokia Oyj has agreed to work with BeeHealthy to commercialize its Network as Code platform for digital healthcare, using network-based authentication and anti-fraud APIs. The partnership aims to apply telecom-grade security tools to healthcare apps and services as part of a broader enterprise monetization effort. Nokia also opened a research and development center in Saudi Arabia focused on AI-powered network automation and future 6G work, supporting national digital transformation programs. The Riyadh hub positions Nokia in key Middle East telecom markets and aligns with Saudi Vision 2030. Investors should watch for additional Network as Code customers and contracts tied to the Saudi center over the next 12 to 18 months to gauge the materiality of Nokia's AI and software push.

InCoax Networks has announced the initial activation of a planned multi-building deployment for Sjoberg's Inc., a family-owned cable operator based in Thief River Falls, Minnesota, using Nokia Gigabit Connect with MoCA Access technology. The rollout is expected to cover approximately 30 to 40 buildings across Sjoberg's network, delivering fiber-based multi-gigabit broadband over existing coaxial infrastructure in apartment buildings. InCoax CEO Jakob Tobieson called the activation a milestone, marking the first live installations from the company's collaboration with Nokia and the transition from product integration to live deployment in a U.S. operator network. The solution supports integrated provisioning and lifecycle management through Nokia Altiplano Access Controller, and Sjoberg has integrated the Nokia DPU and InCoax MoCA technology into its TruVizion broadband diagnostics platform. This deployment represents a Fiber Access Extension use case, extending fiber-based services from the building access point to individual subscribers.

Nokia will rejoin the Euro Stoxx 50 before the market opens on September 21, ending a one-year exile from the euro area's blue-chip benchmark, while Volkswagen and Wolters Kluwer will be removed. The Finnish network-equipment maker, whose shares have more than doubled over the past year on AI and cloud infrastructure optimism, enters alongside French utility Engie, which has gained nearly 40% after raising its full-year profit forecast. Volkswagen's exit reflects investor concerns over Chinese competition, cost-cutting challenges, and the costly EV transition, leaving BMW, Mercedes-Benz, and Ferrari as the only carmakers in the index. The reshuffle also affects the broader Stoxx 600, adding Greek lenders Piraeus Bank and Alpha Bank while dropping Fraport and JD Sports Fashion. Index changes matter because passive funds tracking the Euro Stoxx 50 will buy Nokia and sell Volkswagen, creating near-term trading pressure, and the shift underscores Europe's changing market hierarchy toward AI infrastructure and utilities.

Nokia has opened its first research and development center in Saudi Arabia, located in Riyadh, to accelerate AI-powered network automation. The center will develop software for service management and orchestration, self-organizing networks, Autopilot, and rApps, enabling networks to self-configure, self-heal, and optimize energy use. This initiative supports Saudi Vision 2030 by creating local engineering roles and training programs, while also producing exportable 'Made in Saudi' technology. The launch follows an agreement between Saudi Arabia's Minister of Communications and Information Technology and Nokia's CEO Justin Hotard, and aims to contribute to global Nokia customers as well as explore AI-native 6G technologies.

The European Union on Tuesday awarded French state-owned computer company Bull a contract worth 387.78 million euros ($449.4 million) to build an artificial intelligence supercomputer. This is Bull's largest order ever and part of the EU's efforts to expand computing capacity and narrow the gap with the United States and China. The contract comes months after the French government spun off Bull from debt-laden Atos. According to officials at the European High Performance Computing Joint Undertaking (EuroHPC), demand for AI computing resources exceeds available capacity. EuroHPC selected Bull as the sixth system ordered under its AI Factory program. The new system, named LUMI-AI, will be co-located with the existing supercomputer LUMI in Finland and is expected to become operational in the second half of 2027. This order further expands the network that EuroHPC has been building for years. With a total budget of 8.2 billion euros through 2027, EuroHPC has established 19 AI factories centered on 12 supercomputers, with plans for further expansion. Evangelos Floros, head of infrastructure at EuroHPC, told reporters, "At present, we cannot meet all demand and have to turn down some applications." He expressed hope that the capacity shortfall would be alleviated as additional systems come online in the second half of this year and beyond. Floros noted that EuroHPC's network has become a key foundation for AI development in Europe, with AI factories adding systems specialized for AI training and applications. Bull will use AI chips from AMD, a major competitor to U.S. chip giant Nvidia, and integrate storage technology from IBM and network technology from Nokia. EuroHPC systems are already being used by European AI developers. French cloud services company OVHcloud told Reuters it has completed initial training of a foundation model using Jupiter, a supercomputer EuroHPC is building in Germany. In addition, Italian startup Domino, which leads the EU-backed EUROPA consortium, is also using EuroHPC infrastructure to train its own models.

The global mobile virtual network enabler market is projected to expand by USD 2.34 billion between 2025 and 2030, growing at a compound annual growth rate of 9.8%, according to a new report from ResearchAndMarkets.com. The study, which profiles 20 vendors including Ericsson, Nokia, Cisco, and Tata Communications, attributes growth to the proliferation of IoT and M2M connections, cloud-native infrastructure and eSIM adoption, and enterprise-led virtual networks. AI and machine learning integration for automated network operations is highlighted as a major catalyst, along with 5G network slicing and heightened cybersecurity investment. The report segments the market by service, end user, deployment model, and geography, covering regions such as Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.

Nokia has been ranked No. 1 for mobile core portfolio competitiveness in Omdia's 2026 Market Landscape: Core Vendors report for the second consecutive year. The report named Nokia a leader across all seven competitiveness categories: core portfolio breadth, cloud-native maturity, signaling, automation, core as a service, AI/ML and analytics, and implementations of other network functions. Nokia's recent deployments include the world's first commercial mobile telco service based on 5G Core SaaS, Core SaaS Edge enabling local breakout for roaming subscribers, core network resilience solutions, telecom core modernization programs, and mission-critical network upgrades supporting the IoT, rail and utilities sectors. Omdia's 2026 report expanded its assessment to 12 vendors while updating category weightings to reflect evolving operator priorities, including increased emphasis on AI/ML and analytics capabilities.

Nokia Corporation is benefiting from solid revenue growth in its Network Infrastructure segment, with second-quarter net sales rising to €2.04 billion from €1.83 billion a year earlier. AI and Cloud net sales increased 105% year over year, while AI and Cloud order intake reached 2.8 billion euros. Optical Networks revenues grew 20% and IP Network grew 16% on a constant currency basis, backed by growing AI infrastructure spending. Nokia is expanding optical manufacturing capacity, including a new San Jose facility expected to scale production in the fourth quarter of 2026 and a tenfold increase in Pennsylvania advanced test and packaging capacity. Weakness in the Fixed networks business remains a drag on segment growth, while competitors Ciena and Arista Networks are also seeing strong AI-driven demand.

Nokia signed a 5G expansion agreement with Taiwan Mobile to deploy its AirScale portfolio and AI-driven software across the carrier's network. The deal includes four AI applications: predictive hardware analytics, MantaRay SON self-organizing network, AI-powered energy management, and AI-enabled self-healing capabilities. The deployment supports 5G-Advanced features like network slicing and RedCap, aiming to handle surging AI traffic that could grow network load by up to 10 times. Nokia has been building toward AI-native infrastructure, launching the industry's first commercial AI-RAN platform in June with 20% higher spectral efficiency, and expects that to reach 50% next year and 100% by 2028. The company also has a deepening partnership with Nvidia, which invested $1 billion at $6.01 per share, and insider buying has been strong, with multiple executives purchasing shares in recent months.

Nokia Oyj has launched what it calls the first commercial AI-RAN platform for mobile networks, alongside new AI-powered network collaborations with Nvidia and Dell aimed at future 6G connectivity. The announcement comes as Nokia's share price has been volatile, with a 7-day return of 3.74% but a 30-day decline of 20.42%, while longer-term returns remain strong at 132.55% over one year and 154.01% over three years. The stock closed at $9.43, trading at a price-to-earnings ratio of 66.4 times, which is described as expensive compared to the US Communications industry average of 33.4 times and an estimated fair P/E of 47.6 times. However, a discounted cash flow model from Simply Wall St suggests the stock trades about 24.7% below an estimated fair value of $12.52, pointing to an undervalued reading. Nokia faces execution risk on its AI-RAN rollout and depends on competitive telecom spending cycles that can shift quickly if customer budgets tighten.

Qatari telecom provider Ooredoo is leading an $800 million investment in Zankore, a dedicated AI compute and neocloud platform being developed with Indosat Ooredoo Hutchison, Nokia, and Nvidia. As founding shareholder and lead investor with a 49% stake, Ooredoo will commit about $800 million to Zankore's launch and initial development, with the investment expected to contribute approximately $600 million in cumulative EBITDA over its first five years. Zankore will initially be developed in Indonesia before expanding across Southeast Asia, targeting 1 gigawatt of NVIDIA DSX AI Factory capacity and aiming to deliver about 200 megawatts of AI capacity in the first half of 2027 using NVIDIA DSX MaxLPS technology, which can increase computing output by up to 40% within the same power budget. The move positions Ooredoo as an early mover in Southeast Asia's rapidly growing AI infrastructure market, as Gulf states accelerate investments in AI and data infrastructure.

A potential US ban on Chinese optical transceiver imports would inflict collateral damage on American hyperscalers, exacerbating a supply bottleneck that no US firm can ease, research firm Counterpoint warned on Wednesday. The proposed ban would disrupt hundreds of billions of dollars in AI infrastructure, raising costs for major spenders like Amazon and Microsoft and lowering utilization of expensive AI accelerators. Chinese firms hold nearly two-thirds of the global optical transceiver supply, with companies such as Zhongji Innolight and Eoptolink Technology leading in high-precision module manufacturing at scale. Restricting Chinese components would also hurt Western suppliers like Broadcom, Marvell Technology, Lumentum Holdings, and Mitsubishi Electric, whose chips and lasers are integrated into Chinese-made transceivers. The initial trade curb report sent Zhongji Innolight shares down as much as 14%, while Western rivals Applied Optoelectronic, Coherent, and Nokia rallied.

Nokia Oyj stock is drawing attention after second quarter 2026 results and third quarter guidance that assumes a 3% to 7% quarter-on-quarter rise in net sales. The most followed narrative on Simply Wall St places fair value at €15.16 per share, well above the recent price of €8.10, implying the stock is 47% undervalued. Nokia reported revenue of €4.815 billion and earnings per share of €0.07, supported by growing demand for AI and cloud-related solutions. The company is also expanding in the defense sector through AI-powered tools for 5G networks. A separate Simply Wall St discounted cash flow model values the stock at €11.66, also above the current price.

Nokia reported second-quarter 2026 net sales growth of 9% year over year, driven by a 105% jump in its AI and cloud segment to 446 million euros. AI and cloud order intake reached 2.8 billion euros, with roughly half expected to convert to revenue within 12 months, though CEO Justin Hotard cautioned that order patterns can be lumpy. Comparable gross margin expanded 70 basis points to 46%, and comparable operating margin rose 70 basis points to 9%, despite a 150-basis-point headwind from stock-based compensation. Network infrastructure sales grew 12% on a constant currency basis, led by a 20% increase in optical networks and a 16% increase in IP networks, while mobile infrastructure sales rose 7%. The company announced the reclassification of its fixed wireless access and enterprise campus edge businesses as discontinued operations, and it is accelerating the integration of its Chinese operations to achieve 200 million euros in cost synergies within two years. Free cash flow was negative 732 million euros, and the net cash position stood at 2.8 billion euros at quarter end.