Nvidia will buy a 2.9% stake in Nokia for $1 billion as part of a new partnership focused on AI and data centers. The announcement on Tuesday pushed Nokia’s shares to their highest level in almost 10 years. Nokia said it will work with Nvidia to develop AI-based networking solutions and look for ways to include its data center communication products in Nvidia’s future AI infrastructure.

Nokia to issue around 166 million shares to Nvidia

Nokia will issue around 166 million new shares to Nvidia priced at $6.01 each, giving the US chipmaker a 2.9% ownership in the company, both firms said in a joint statement on Tuesday.

Under the partnership, Nvidia’s chips will help speed up Nokia’s software for 5G and upcoming 6G networks. In return, Nvidia will look into using Nokia’s data center te

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