The AI-RAN market is expected to exceed $200 billion by 2030, as leading telecom companies pour large sums into new network equipment and infrastructure across the industry. Nvidia (NVDA) and Nokia (NOK) recently agreed to a $1 billion partnership to add AI-RAN products for commercial networks into Nokia’s RAN portfolio, with T-Mobile (TMUS) set to begin trials in 2026, and this is already changing how investors look at traditional telecom names that have strong existing networks and steady cash generation.
Within this backdrop, AT&T (T) has drawn fresh attention from Wall Street analysts. On Nov. 12, KeyBanc Capital Markets upgraded AT&T to “Overweight” from “Sector Weight” and set a $30 price target, which points to roughly 19% upside from recent trading levels.
