To strengthen AI networks, Nvidia will invest $1 billion in Nokia
On Tuesday, the Finnish telecom equipment giant Nokia revealed that Nvidia would invest $1 billion in the company.
According to a statement from the Finnish company, Nvidia and Nokia will work together on AI networking solutions and look at ways to integrate Nokia’s optical and data center switching technologies into Nvidia’s upcoming AI infrastructure architecture.
Nokia said that Nvidia will own 2.9% of the Finnish firm after its Board of Directors approved a directed issuance of 166.4 million shares at a price of $6.01 per share.
At $6.82, the shares on the Helsinki shares Exchange increased 17.08%. The stock of the massive artificial intelligence company increased by 0.61% to $192.66.
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