Nokia Corporation

Nokia has been ranked No. 1 for mobile core portfolio competitiveness in Omdia's 2026 Market Landscape: Core Vendors report for the second consecutive year. The report named Nokia a leader across all seven competitiveness categories: core portfolio breadth, cloud-native maturity, signaling, automation, core as a service, AI/ML and analytics, and implementations of other network functions. Nokia's recent deployments include the world's first commercial mobile telco service based on 5G Core SaaS, Core SaaS Edge enabling local breakout for roaming subscribers, core network resilience solutions, telecom core modernization programs, and mission-critical network upgrades supporting the IoT, rail and utilities sectors. Omdia's 2026 report expanded its assessment to 12 vendors while updating category weightings to reflect evolving operator priorities, including increased emphasis on AI/ML and analytics capabilities.

Nokia Corporation is benefiting from solid revenue growth in its Network Infrastructure segment, with second-quarter net sales rising to €2.04 billion from €1.83 billion a year earlier. AI and Cloud net sales increased 105% year over year, while AI and Cloud order intake reached 2.8 billion euros. Optical Networks revenues grew 20% and IP Network grew 16% on a constant currency basis, backed by growing AI infrastructure spending. Nokia is expanding optical manufacturing capacity, including a new San Jose facility expected to scale production in the fourth quarter of 2026 and a tenfold increase in Pennsylvania advanced test and packaging capacity. Weakness in the Fixed networks business remains a drag on segment growth, while competitors Ciena and Arista Networks are also seeing strong AI-driven demand.

Nokia signed a 5G expansion agreement with Taiwan Mobile to deploy its AirScale portfolio and AI-driven software across the carrier's network. The deal includes four AI applications: predictive hardware analytics, MantaRay SON self-organizing network, AI-powered energy management, and AI-enabled self-healing capabilities. The deployment supports 5G-Advanced features like network slicing and RedCap, aiming to handle surging AI traffic that could grow network load by up to 10 times. Nokia has been building toward AI-native infrastructure, launching the industry's first commercial AI-RAN platform in June with 20% higher spectral efficiency, and expects that to reach 50% next year and 100% by 2028. The company also has a deepening partnership with Nvidia, which invested $1 billion at $6.01 per share, and insider buying has been strong, with multiple executives purchasing shares in recent months.

Nokia Oyj has launched what it calls the first commercial AI-RAN platform for mobile networks, alongside new AI-powered network collaborations with Nvidia and Dell aimed at future 6G connectivity. The announcement comes as Nokia's share price has been volatile, with a 7-day return of 3.74% but a 30-day decline of 20.42%, while longer-term returns remain strong at 132.55% over one year and 154.01% over three years. The stock closed at $9.43, trading at a price-to-earnings ratio of 66.4 times, which is described as expensive compared to the US Communications industry average of 33.4 times and an estimated fair P/E of 47.6 times. However, a discounted cash flow model from Simply Wall St suggests the stock trades about 24.7% below an estimated fair value of $12.52, pointing to an undervalued reading. Nokia faces execution risk on its AI-RAN rollout and depends on competitive telecom spending cycles that can shift quickly if customer budgets tighten.

Qatari telecom provider Ooredoo is leading an $800 million investment in Zankore, a dedicated AI compute and neocloud platform being developed with Indosat Ooredoo Hutchison, Nokia, and Nvidia. As founding shareholder and lead investor with a 49% stake, Ooredoo will commit about $800 million to Zankore's launch and initial development, with the investment expected to contribute approximately $600 million in cumulative EBITDA over its first five years. Zankore will initially be developed in Indonesia before expanding across Southeast Asia, targeting 1 gigawatt of NVIDIA DSX AI Factory capacity and aiming to deliver about 200 megawatts of AI capacity in the first half of 2027 using NVIDIA DSX MaxLPS technology, which can increase computing output by up to 40% within the same power budget. The move positions Ooredoo as an early mover in Southeast Asia's rapidly growing AI infrastructure market, as Gulf states accelerate investments in AI and data infrastructure.

A potential US ban on Chinese optical transceiver imports would inflict collateral damage on American hyperscalers, exacerbating a supply bottleneck that no US firm can ease, research firm Counterpoint warned on Wednesday. The proposed ban would disrupt hundreds of billions of dollars in AI infrastructure, raising costs for major spenders like Amazon and Microsoft and lowering utilization of expensive AI accelerators. Chinese firms hold nearly two-thirds of the global optical transceiver supply, with companies such as Zhongji Innolight and Eoptolink Technology leading in high-precision module manufacturing at scale. Restricting Chinese components would also hurt Western suppliers like Broadcom, Marvell Technology, Lumentum Holdings, and Mitsubishi Electric, whose chips and lasers are integrated into Chinese-made transceivers. The initial trade curb report sent Zhongji Innolight shares down as much as 14%, while Western rivals Applied Optoelectronic, Coherent, and Nokia rallied.

Nokia Oyj stock is drawing attention after second quarter 2026 results and third quarter guidance that assumes a 3% to 7% quarter-on-quarter rise in net sales. The most followed narrative on Simply Wall St places fair value at €15.16 per share, well above the recent price of €8.10, implying the stock is 47% undervalued. Nokia reported revenue of €4.815 billion and earnings per share of €0.07, supported by growing demand for AI and cloud-related solutions. The company is also expanding in the defense sector through AI-powered tools for 5G networks. A separate Simply Wall St discounted cash flow model values the stock at €11.66, also above the current price.

Nokia reported second-quarter 2026 net sales growth of 9% year over year, driven by a 105% jump in its AI and cloud segment to 446 million euros. AI and cloud order intake reached 2.8 billion euros, with roughly half expected to convert to revenue within 12 months, though CEO Justin Hotard cautioned that order patterns can be lumpy. Comparable gross margin expanded 70 basis points to 46%, and comparable operating margin rose 70 basis points to 9%, despite a 150-basis-point headwind from stock-based compensation. Network infrastructure sales grew 12% on a constant currency basis, led by a 20% increase in optical networks and a 16% increase in IP networks, while mobile infrastructure sales rose 7%. The company announced the reclassification of its fixed wireless access and enterprise campus edge businesses as discontinued operations, and it is accelerating the integration of its Chinese operations to achieve 200 million euros in cost synergies within two years. Free cash flow was negative 732 million euros, and the net cash position stood at 2.8 billion euros at quarter end.

Nokia Oyj has launched what it describes as the industry's first commercial AI-RAN platform, aiming to reshape radio access network architecture with AI-driven control. The company also expanded its 5G partnership with Taiwan Mobile to deploy AI-native mobile network capabilities across Taiwan. These moves are intended to increase network capacity, energy efficiency, and automation for telecom operators using Nokia solutions. Nokia's stock is priced at €9.152 and has risen 65.7% year to date and 126.1% over the past year.

Nokia has rallied 130% over the past year, driven by its emerging role in artificial intelligence radio access networks, or AI-RAN. The company's small AI and cloud segment grew 49% year over year in the first quarter, even as overall revenue rose just 4%. Nvidia announced a $1 billion investment in Nokia as part of a partnership to support the telecom sector's upgrade to AI-native 5G-advanced and 6G networks. Nokia is on track to launch customer trials later this year with 10 customers publicly committed, and market research firm Dell'Oro Group anticipates cumulative AI-RAN spending will reach $35 billion in five years.

Nokia introduced what it described as the industry's first commercial artificial intelligence-native radio access network platform developed with Nvidia. The platform combines Nokia's AI-native anyRAN software with Nvidia's Aerial AI-RAN technology and is expected to more than double spectral efficiency by 2028, with demonstrations already showing more than 20% gains. Pilot deployments are planned for later this year, with commercial availability scheduled for 2027, using Nvidia's programmable merchant silicon platforms. The launch follows a strategic partnership established less than 10 months ago that included Nvidia taking an equity stake in Nokia.

Nokia has extended its 5G agreement with Taiwan Mobile to accelerate the rollout of artificial intelligence-powered mobile networks across Taiwan. Under the deal, Nokia will deploy its latest AirScale portfolio, including next-generation baseband platforms and advanced radio technologies, to increase network capacity and prepare for rising AI-driven data traffic. The company will also introduce AI software such as MantaRay Self-Organizing Networks and Predictive Hardware Analytics to automate operations and improve reliability, along with AI-based energy management tools to optimize power usage. The upgraded infrastructure will support advanced 5G features like network slicing and Reduced Capability, enabling new services for businesses and consumers.

Nokia Oyj stock may be about 12% undervalued according to a Discounted Cash Flow analysis, even as earnings-based metrics suggest the shares are overvalued. The DCF model estimates an intrinsic value of €11.63 per share, implying roughly 12.1% upside from the current price, supported by a recent €1 billion AI infrastructure partnership with Nvidia. However, Nokia trades at about 74 times earnings, above a tailored fair P/E of around 65.2 times and well above the broader communications industry average of 39.4 times, signaling that the market is paying a premium. Broader valuation checks score Nokia 2 out of 6, leaning toward expensive territory despite the DCF signal. The stock has returned 190.5% over three years and 141.7% over the past year, raising questions about whether the good news is already priced in.

Nokia Defense and NestAI are advancing their technology partnership with the first operational capabilities developed under their collaboration, which was established alongside a €100 million joint investment in NestAI by Nokia and Tesi in November 2025. The partnership delivers three integrated capabilities: AI-enabled command-and-control on deployable 5G networks, mission planning with assured connectivity, and earlier threat detection and response by combining Nokia’s Integrated Sensing and Communications with NestAI’s multi-sensor tracking. These capabilities are built for denied environments where communications, sensing, and mission-planning must work together seamlessly, addressing challenges such as electronic attack and emerging drone threats with European-developed technologies built to NATO operational requirements. Mikko Hautala, Chief Geopolitical & Government Relations Officer and Chairman of Nokia Defense, said AI only works in the field with secure, resilient connectivity, and the partnership accelerates sovereign technologies NATO needs. Peter Sarlin, Founder and Executive Chairman of NestAI, noted that what they are building addresses the real conditions European forces face, on technology that Europe develops and controls.

Nvidia CEO Jensen Huang highlighted that silicon photonics capacity is substantially below what the world needs, creating a new AI bottleneck in data-transfer speeds. To address this, Nvidia has invested $2 billion in Coherent, $2 billion in Lumentum, and $1 billion in Nokia, forming strategic agreements for access to advanced optical networking and laser technologies. Coherent's data center and communications revenue rose 41% last quarter, Lumentum's total revenue nearly doubled to $808.4 million, and Nokia's cloud and AI revenue grew 49% in the first quarter of 2026. All three stocks have more than doubled this year, though they face risks including heavy reliance on data center demand and intense competition.

Nokia's stock could see a parabolic move after its July 23 earnings report, driven by a landmark AI partnership with Nvidia. In May 2026, Nvidia agreed to invest $1 billion in Nokia at $6.01 per share, taking a 2.9% stake, to accelerate AI-RAN, a new category of radio access networks built for AI workloads. T-Mobile also signed on for field trials this year. Nokia's optical networking business is ramping up a second indium phosphide semiconductor fabrication facility in San Jose, California, giving it a vertical integration advantage in high-speed optical transceivers for AI data centers. The Q2 2026 report will be the first to show how the Nvidia deal is impacting order books and whether the facility ramp is on schedule. If Nokia delivers on optical growth and provides forward guidance on AI-RAN commercialization, the stock could reprice quickly from its current undervalued levels.

Nokia has secured a multi-year contract with Orange Belgium to upgrade the operator's transport network, serving as the sole supplier for a large-scale modernization project. The deal will combine Orange Belgium's fixed and mobile transport systems into a converged optical network using Nokia's 1830 Photonic Service Switch platform, supporting speeds from 1G to 400G and beyond, along with AI-powered WaveSuite automation software. The upgrade aims to improve efficiency and service readiness for high-bandwidth demands driven by AI, cloud computing, 5G, and streaming. Nokia shares have surged 132.5% over the past year, far outpacing the industry's 40.1% growth, though the stock currently carries a Zacks Rank #3 (Hold).

Nokia Oyj is expanding further into defense technology, supplying secure 4G and 5G communications for military users and working with the Finnish Border Guard on anti-drone solutions aimed at protecting critical infrastructure. The company has also joined partnerships such as its collaboration with KNDS to develop next-generation tactical battlefield connectivity. Nokia's stock trades at €10.785, with a return of 95.2% year to date and 151.7% over the past year, despite declines of 11.5% over the past week and 25.4% over the past month. Over longer horizons, the stock has gained 210.3% over three years and 166.0% over five years. These defense and homeland security projects may influence how the market views the balance between Nokia's traditional carrier business and newer security-focused offerings.

Nokia has joined a Finnish Border Guard-led consortium to develop a nationwide counter-drone network. Through its Defense unit, Nokia will provide an intelligent network solution enabling secure, high-performance connectivity between patrol vehicles, boats, and sensors for real-time data exchange across land and sea. The project aims to build a sovereign, integrated defense system against multi-domain threats as drone technology becomes more accessible. Evaluation platforms will be deployed, with testing slated for 2027 and early 2028.

Jefferies has named SAP as one of its top European software stock picks, identifying the company as the most aggressive in its coverage in shifting toward an AI-first strategy. The brokerage highlighted SAP's rollout of new tools and customer incentives such as free agents to drive adoption, but cautioned that delayed revenue recognition from these incentives means the benefits will become more apparent next year. Separately, SAP announced a new multi-year agreement with Nokia to accelerate its enterprise transformation through the RISE with SAP methodology, using SAP S/4HANA hosted on Microsoft Azure, with SAP managing the cloud environment to allow Nokia to focus on business outcomes.

Nokia shares have surged 105.2% year to date, far outpacing the industry's 27.8% gain and the broader market. The rally is fueled by rapid expansion in AI and cloud networking, where first-quarter 2026 revenue jumped 49% year over year and the company secured €1 billion in new orders. Nokia is positioning itself as a major player in AI data centers, with its optical networks segment seeing strong demand from hyperscalers and a book-to-bill ratio well above one. Partnerships with Google Cloud and AWS are adding higher-margin software capabilities, while a $4 billion U.S. investment in AI-ready networking includes expanded semiconductor packaging operations. However, the company still relies heavily on a sluggish legacy telecom business, faces intense competition from Arista Networks and HPE, and carries a Zacks Rank of 3, suggesting new investors should remain cautious.

Nokia has joined a Finnish-Nordic consortium led by the Finnish Border Guard to develop next-generation counter-drone capabilities. The company’s defense unit will provide secure, intelligent connectivity for patrol vehicles and maritime operations, enabling faster threat detection and real-time response. The project highlights the growing strategic importance of sovereign defense infrastructure as nations increasingly seek trusted technology partners for security-critical operations. Nokia faces competition from Ericsson and Cisco in the defense sector, while its shares have soared 151.2% over the past year compared with the industry’s 38.4% growth.

Amazon Web Services and Nokia are expanding their partnership to help telecommunication operators run fully autonomous, AI-powered networks through the cloud. The centerpiece is Nokia's Autonomous Networks Fabric running on AWS, combining AI-driven orchestration, network assurance, anomaly detection, and unified inventory management. Early development results show operators reporting automation rates above 90%, service delivery times of four hours or less, and service interruptions of just one minute per year. Separately, Bank of America Securities reiterated a Buy rating on Amazon with a $310 price target, and Barclays reiterated an Overweight rating with a $330 target.

Nokia raised its fiscal 2026 network infrastructure sales growth guidance to 12% to 14%, up from a prior 6% to 8%, driven largely by its AI data center partnership with Nvidia. The company now expects IP and optical networks revenue to grow 18% to 20% in 2026, compared with an earlier target of 10% to 12%. The partnership, announced last fall, involves a $1 billion deal to develop an AI-enabled 6G radio access network, with Nvidia providing AI chips and deploying Nokia’s switches and optical technologies in its data centers. Nokia’s stock has surged 133% since the deal was announced, trading near $14 per share, though its price-to-earnings ratio has risen to 86 with a forward multiple of 36. Analysts are mixed, with a median price target of $12 per share, and the Motley Fool suggests investors may want to wait for a better entry point.

Nokia shares have skyrocketed 133% to nearly $14 since announcing a $1 billion partnership with Nvidia last fall to develop an AI-enabled 6G radio access network called AI RAN. The deal, which will see Nvidia provide AI chips and Nokia supply switches, software, and optical technologies for Nvidia data centers, has dramatically improved the outlook for the long-struggling telecom stock. Nokia raised its fiscal-year guidance after first-quarter earnings, now projecting network infrastructure sales growth of 12% to 14%, up from 6% to 8%, driven largely by the data center partnership. Revenue accretion from the 6G component is expected to begin in 2027. Despite the surge, Nokia trades at a price-to-earnings ratio of 86 with a forward P/E of 36, and analysts are mixed with a median price target of $12.

CoreWeave and Nokia, two companies in which Nvidia holds stakes, are emerging as potential big winners in Nvidia's investment portfolio. CoreWeave, a neocloud provider, has secured over $99 billion in contracts and became the first cloud platform to integrate Nvidia's Vera Rubin NVL72 platform, with first-quarter 2026 revenue surging 112% to nearly $2.1 billion, though it posted a $740 million loss and carries nearly $25 billion in debt. Nokia, once a cellphone leader now focused on telecom equipment, is embedding Nvidia's ARC-Pro processors into its 5G gear to enable AI inferencing from cell towers, with T-Mobile and Orange already working on deployments, even as its first-quarter revenue of 4.5 billion euros rose only 2% and profit jumped 93% to 295 million euros largely due to financial income. CoreWeave's stock has fallen over 40% in the past year but is up more than 40% year-to-date, while Nokia's shares have climbed roughly 170% over the last year, driven by speculation about its AI-driven future.

Alphabet's Google Cloud and Nokia announced an expanded partnership to integrate Google's Gemini models into Nokia's network software suite, developing six AI agents to help telecom providers resolve network issues faster and reduce costs. Separately, Britain's Competition and Markets Authority ordered Google to provide greater transparency on search ranking, requiring objective criteria, clearer complaint processes, and allowing data transfer to authorized third parties.

President Donald Trump name-dropped Nokia and Eli Lilly during a speech in Pennsylvania's Lehigh Valley, praising Eli Lilly for a $3.5 billion manufacturing investment and Nokia for a $30 million semiconductor facility expansion. Trump has not disclosed any Nokia stake but holds shares in Eli Lilly. His assets are in a trust managed by his children that is not blind, raising concerns about profiting from the office. Other stocks he has mentioned in speeches and interviews include Micron, Dell, Intel, Palantir, and Apple, with many seeing significant gains after his comments, though he had purchased shares in several of them prior to the mentions.

Malaysian mobile operator Tune Talk has launched Epik+ Family Safe, the world's first family mobile plan with integrated one-tap parental controls enforced entirely at the network level. Built on Tune Talk's cloud-native network in collaboration with Nokia, the plan allows parents to activate one of three protection levels and restrict access across up to 56 content categories, managing children's access to social media and other online content through the connectivity layer itself. The prepaid plan, available as a dedicated 1 Parent + 1 Child offering, includes 700GB of high-speed data and personal accident insurance coverage of up to USD125,000. Tune Talk says the launch aims to demonstrate a practical implementation model for telcos globally, closing the gap between policy and everyday enforcement of child online safety.

Nokia and Databricks have completed a joint proof of concept for a unified, substrate-agnostic data platform designed to support AI-driven autonomous networks. The proof of concept showed how telecom operators can simplify fragmented data environments and deploy real-time analytics at scale without rewriting code, enabling faster decision-making and more efficient operations. Engineering teams validated cross-platform data pipelines that ran seamlessly on both Databricks and an open-source stack, automated deployment through a custom compiler, and AI-powered creation of new data products using natural language prompts. The companies plan to continue their collaboration to help operators transition to real-time, AI-driven network management.

Nokia and Amazon Web Services are expanding their collaboration to deliver autonomous networks built for the AI era, making it easier for telecommunication providers to run their full operational stack in the cloud. The companies are working to run Nokia’s Autonomous Networks Fabric on AWS, giving operators access to advanced AI and cloud services required for Level 4 autonomy, with availability expected later this year. The Fabric unifies observability, analytics, security, and automation through capabilities including unified data management, agentic AI, digital twin simulations, and intent-based networking. Nokia’s solutions on AWS gain elastic scalability, global availability, and broad model choices through cloud AI and ML services such as Amazon Bedrock and Amazon SageMaker, enabling operators to innovate faster while reducing infrastructure costs. The collaboration builds on earlier milestones, including the industry’s first agentic AI-powered network slicing showcased at MWC in March and the world’s first commercial mobile service on 5G Core SaaS running on Belgium’s Citymesh network announced in February.

Nvidia is reportedly working on a massive long-haul telecom network project that could cost between $5 billion and $10 billion over the next three years, according to Needham. The firm believes Nvidia aims to reduce its dependence on major hyperscalers by building direct connectivity and hosting infrastructure for neocloud partners and enterprise customers. Needham identified Ciena, Cisco, Nokia, Corning, Zayo, and Lumen as likely beneficiaries, with the biggest upside seen for Ciena, which could generate an additional $500 million to $800 million in revenue over the next two to three years if it secures related contracts. The network may include dozens of fiber pairs capable of moving more than 5 petabytes of data, with Corning expected to be a key fiber supplier and Zayo and Lumen potentially helping build portions of the network.

Nokia Oyj and Indosat Ooredoo Hutchison announced a partnership to modernize Indosat's nationwide mobile network in Indonesia through the deployment of advanced 5G radio access network technologies. Under the agreement, Nokia will support the rollout of low- and mid-band 5G infrastructure designed to deliver enhanced network performance and help create AI-ready connectivity platforms. The partnership further strengthens Nokia's presence in a growing telecommunications market while highlighting increasing global demand for next-generation network infrastructure capable of supporting artificial intelligence applications and rising data consumption. On June 8, BofA raised its price target on Nokia Oyj to EUR 14.40 from EUR 11 and maintained a Buy rating on the shares, expressing confidence in the company's positioning in data center interconnect solutions and optical transport technologies.

Celestial Acquisition Corp. has announced the proposed board of directors for the resulting issuer following its qualifying transaction with Nokia’s Space Communication Solutions business, Modul8, and provided an update on the concurrent C$56.7 million (US$40 million) brokered private placement. The proposed board includes Kevin Ford as chair, alongside Chris Hadfield, Erin O’Toole, and Laura Price, all independent, with John Dow as CEO and director. The financing, led by Scotiabank and ATB Capital Markets, will be conducted through subscription receipts priced at C$3.40 each, with proceeds intended for capital investments and working capital. Upon completion, Nokia’s subsidiary NSN will hold approximately 40.67% of the resulting issuer, which will be renamed Modul8 Corporation and listed on the TSX Venture Exchange as a Tier 1 issuer.