403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Nvidia Plans to Acquire USD1B Stake in Nokia
(MENAFN) Nokia revealed on Tuesday that Nvidia will acquire a $1 billion stake in the networking giant.
In a statement, Nokia said it will issue more than 166 million new shares, with the funds intended to support its AI initiatives and other general corporate purposes.
The two companies also confirmed a strategic partnership to jointly advance 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 said.
The timing coincides with Nvidia CEO Jensen Huang’s upcoming keynote at the company’s developer conference in Washington, DC, where he is expected to discuss joint projects and future plans with Nokia.
In recent months, Nvidia has taken stakes in multiple strategic partners as it solidifies its position at the forefront of the AI sector. Following the announcement, Nokia’s shares surged by as much as 26%.
In a statement, Nokia said it will issue more than 166 million new shares, with the funds intended to support its AI initiatives and other general corporate purposes.
The two companies also confirmed a strategic partnership to jointly advance 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 said.
The timing coincides with Nvidia CEO Jensen Huang’s upcoming keynote at the company’s developer conference in Washington, DC, where he is expected to discuss joint projects and future plans with Nokia.
In recent months, Nvidia has taken stakes in multiple strategic partners as it solidifies its position at the forefront of the AI sector. Following the announcement, Nokia’s shares surged by as much as 26%.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment