Nokia's shares jumped to their highest level in nearly a decade after Nvidia announced a major investment in the Finnish telecommunications giant. The deal gives Nvidia a 2.9 per cent stake in Nokia and cements a new partnership aimed at advancing artificial-intelligence networking and next-generation 6G technology.
The announcement on Tuesday sent Nokia's stock soaring by 26 per cent, its sharpest single-day rise since 2016. Under the agreement, Nokia will issue 166 million new shares at $6.01 each, with proceeds used to fund its AI ambitions and general corporate plans. The two companies also signed a strategic partnership to collaborate on next-generation telecoms and AI data-centre systems.
