Nokia's Stock Jumps 20% as Nvidia Invests $1 Billion to Boost AI Networking

Nokias stock skyrocketed nearly 20% following Nvidias $1 billion investment to enhance artificial intelligence networking, marking a pivotal collaboration between the telecom and chip sectors.

• Nokia shares jumped nearly 20% after Nvidia announced a $1 billion investment to acquire a 2.9% stake in the telecom equipment maker.
• Nvidia will purchase approximately 166 million new shares of Nokia at $6.01 each, as part of their strategy to advance artificial intelligence capabilities in networking.
• The investment aims to leverage both companies strengths, with Nokia headquartered in Finland and Nvidia based in the United States, enhancing data center technologies.