Nvidia Invests One Billion Dollar in Nokia
(MENAFN) Nokia revealed on Tuesday that semiconductor giant Nvidia will acquire a $1 billion stake in the telecommunications firm.
According to a statement from Nokia, the company plans to issue over 166 million new shares, with the capital raised designated to support its AI initiatives as well as broader corporate objectives.
The two firms also formalized a strategic alliance aimed at jointly advancing next-generation 6G technology.
“Nokia and NVIDIA have agreed to collaborate on AI networking solutions and explore opportunities to incorporate Nokia’s data center switching and optical technologies in NVIDIA’s future AI infrastructure architecture,” the statement noted.
This announcement precedes Nvidia CEO Jensen Huang’s keynote address at the company’s developer conference in Washington, DC, where he is expected to outline some of the collaborative projects and future plans involving Nokia.
In recent months, Nvidia has been securing stakes in multiple strategic partners as it positions itself at the leading edge of the AI sector. Following the news, Nokia's stock surged by as much as 26%.
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