Nokia shares soared 18% higher following the news.<\/p>\n
Nokia will issue over 166 million new shares and will use the proceeds to fund its plans for AI and other general corporate purposes.<\/p>\n
The two companies also struck a strategic partnership to work together to develop next-generation 6G cellular technology. Nokia said that it would adapt its 5G and 6G software to run on Nvidia’s chips, and will collaborate on networking technology for AI.<\/p>\n
Nokia said Nvidia would consider incorporating its technology into its future AI infrastructure plans.<\/p>\n
Nokia, a Finnish company, is best known for its early cell phones, but in recent years, it has primarily been a supplier of 5G cellular equipment to telecom providers.<\/p>\n
The announcement comes as Nvidia CEO Jensen Huang<\/a> prepares to address an audience of policymakers and government leaders in Washington DC to keynote the company’s developer conference.<\/p>\n Nokia and Nvidia are expected to discuss some of their collaborations and plans at the conference.<\/p>\n Nvidia has taken several equity stakes in strategic partners in recent months as the company has found itself at the center of the AI world.<\/p>\n In September, it committed a $5 billion investment to one-time rival Intel<\/a>, and said it would invest $100 billion in OpenAI<\/a>. It also committed $500 million in self-driving car startup Wayve and a $667 million investment in to U.K. cloud provider Nscale.<\/p>\n Stock Chart IconStock chart icon Nokia one-day stock chart.<\/p>\n","protected":false},"excerpt":{"rendered":"Visitors at Nokia (Nokia is a Finnish telecom, IT, and electronics company) Pavilion during the India Mobile Congress…\n","protected":false},"author":3,"featured_media":338720,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[11732,64,81,43930,167258,147,67,132,68],"class_list":{"0":"post-338719","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-breaking-news-technology","9":"tag-business","10":"tag-business-news","11":"tag-intel-corp","12":"tag-nokia-corp","13":"tag-nvidia-corp","14":"tag-united-states","15":"tag-unitedstates","16":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115452697277883212","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/338719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=338719"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/338719\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/338720"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=338719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=338719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=338719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"hide](\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\")
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