Nokia Surges on Strong AI and Cloud Sales, Exceeding Profit Expectations

Nokias third-quarter profits surpassed expectations due to robust demand in optical and cloud computing, particularly in AI-focused data center sales following its Infinera acquisition.

• Nokias shares surged 8% in premarket trading, reaching $5.9, the highest price in over three years, adding $3.5 billion to its $34 billion market value.
• The companys strong performance in the third quarter was fueled by increased sales in optical solutions and cloud computing, reflecting a growing demand for Artificial intelligence applications.
• Based in Finland, Nokias success in the AI and cloud markets demonstrates its strategic positioning in the rapidly evolving technology landscape, particularly in Europe where shares also rose to 5.2 euros.